City Developments wants the rest of Millennium & Copthorne Hotels NZ

The company has 18 owned, leased and franchised properties in New Zealand. (Image: Millennium & Copthorne Hotels)

Mon, 20 Jan 2025

City Developments has launched a takeover for the remaining shares it does not own in Millennium & Copthorne Hotels New Zealand.The Singapore-listed company has offered $2.25 per share for the remaining 24.1% of the NZ Exchange-listed (NZX) hotel owner and operator.It has made the offer through a subsidiary, CDL Hotels Holdings NZ, which has a 75.86% stake in Millennium & Copthorne Hotels NZ (MCK).In October, it lifted its stake to that level after the acquisition of a 5% stake from abrdn plc for $1.73 a share.'A supp...

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