June 7, 2019 / 3:55 PM / 4 months ago

CORRECTED-Singapore's CDL to buy rest of Britain's Millennium & Copthorne

(Corrects headline to drop reference to deal value. Also, corrects first paragraph to clarify that the company is not being bought for 2.23 billion pounds, but is valued at that amount.)

June 7 (Reuters) - Singapore-listed real estate firm City Developments (CDL) said on Friday it will buy the rest of Millennium & Copthorne Hotels Plc it does not own in a deal valuing the London-listed company at 2.23 billion pounds ($2.84 billion).

The offer represents a premium of about 37% to Millennium & Copthorne’s closing price of 500 pence on Thursday.

Shares of Millennium & Copthorne surged 35% to 680 pence after the announcement, topping gainers on the FTSE midcap index .

$1 = 0.7847 pounds Reporting by Samantha Machado in Bengaluru; Editing by Shinjini Ganguli

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