Jardine Matheson Holdings has agreed to buy the remaining 11.96 per cent of hotel arm Mandarin Oriental International it does not already own, as the century-old conglomerate ramps up efforts to increase investor returns.<\/p>\n
Mandarin Oriental shareholders would receive US$3.35 in cash per share in a deal that valued the hotel chain at about US$4.2 billion, Jardine said in a statement on Friday. The total value represented a premium of 40 per cent to Mandarin Oriental\u2019s closing price on Thursday, according to Bloomberg calculations.<\/p>\n
The move to take full ownership of the hotel firm comes as Jardine seeks higher returns from its sprawling businesses through management changes and non-core asset disposals.<\/p>\n
The 193-year-old group recently announced a strategic shift from being an owner-operator to an \u201cengaged long-term investor\u201d in its portfolio companies with a focus on increasing shareholder returns. In May, it appointed Lincoln Pan, who was co-head of private equity at PAG, as CEO to replace a three-decade veteran.<\/p>\n
China\u2019s e-commerce leader and its fintech affiliate would use the space for their local headquarters, the companies said in separate statements.<\/p>\n","protected":false},"excerpt":{"rendered":"Jardine Matheson Holdings has agreed to buy the remaining 11.96 per cent of hotel arm Mandarin Oriental International…\n","protected":false},"author":2,"featured_media":82643,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2939,12174,337,1877,114,1657,3448,85,46,57338,9307,57340,57339,4106,57337,39047,2252],"class_list":["post-82642","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-alibaba-group-holding","tag-ant-group","tag-asia","tag-bloomberg","tag-business","tag-china","tag-hong-kong","tag-il","tag-israel","tag-jardine-matheson-holdings","tag-jpmorgan-chase","tag-lincoln-pan","tag-mandarin-oriental","tag-morgan-stanley","tag-one-causeway-bay","tag-pag","tag-singapore"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/82642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=82642"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/82642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/82643"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=82642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=82642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=82642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}