Mandarin Oriental Advances Expansion with €148M Retail Sale
Company Announcements

Mandarin Oriental Advances Expansion with €148M Retail Sale

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.

For further insights into GB:MDOB stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Singapore Auto-Generated NewsdeskMandarin Oriental Boosts Board with Luxury Sector Expert
TipRanks Singapore Auto-Generated NewsdeskMandarin Oriental’s Unchanged Share Option Plan
TipRanks Singapore Auto-Generated NewsdeskMandarin Oriental Enhances Board with New Director
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App