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Singapore's Mandarin Oriental gets bids for Excelsior hotel
September 15, 2017 / 1:03 PM / 3 months ago

Singapore's Mandarin Oriental gets bids for Excelsior hotel

Sept 15 (Reuters) - Singapore’s Mandarin Oriental International Ltd said on Friday it had received takeover proposals from potential buyers for The Excelsior hotel in Hong Kong.

The bids could be valued at as much as HK$30 billion ($3.84 billion), according to a Financial Times report. (on.ft.com/2xDyQs4)

The company said in a filing with the Singapore Stock Exchange that it could not confirm when the deal will be through.

The company, which had flagged its plans to sell the property in June, declined to reveal the identity of the bidders or the size of the offers.

Mandarin shares closed 21 percent higher on Friday. ($1 = 7.8163 Hong Kong dollars) (Reporting By Anusha Ravindranath and Rushil Dutta in Bengaluru; Editing by Anil D‘Silva)

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