Mandarin Oriental International (GB:MDOB) has released an update.
Mandarin Oriental International Limited has announced the signature of an option to sell two retail units adjacent to its Paris hotel for €148 million to Blackstone Europe LLP, with the proceeds aimed at funding the Group’s development strategy. The completion of the sale is expected post-June 30, 2024, and is subject to conditions including a pre-emption right by the City of Paris. This move comes after the recent sale of the Paris hotel itself to Statuto Group for €205 million.
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