City Developments ( (SG:C09) ) has provided an announcement.
City Developments Limited, through its wholly-owned subsidiary CDL Hotels Holdings New Zealand Limited, has announced plans to make a full takeover offer for all ordinary shares in Millennium & Copthorne Hotels New Zealand Limited (MCK) not already owned by it. This move aims to consolidate its holdings in MCK, where it currently holds a 75.86% stake, potentially strengthening its position in the New Zealand hospitality market and enhancing its strategic control over MCK’s assets and operations.
More about City Developments
City Developments Limited is a Singapore-based company operating in the real estate and hospitality sectors. It primarily focuses on property development and investment, hotel ownership, and management, with a significant presence in Singapore and international markets.
YTD Price Performance: -0.66%
Average Trading Volume: 100
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.35B
For detailed information about C09 stock, go to TipRanks’ Stock Analysis page.