11 January 2013 | Corporate
Publication Of Shareholder Circular For Proposed Acquisition Of The Freehold Interest In The Building Housing Mandarin Oriental, Paris
On 29th November 2012, Mandarin Oriental International Limited (‘MOIL’), the publicly listed parent company of Mandarin Oriental Hotel Group (the ‘Group’), announced that it acquired an option to purchase the freehold interest in the building housing Mandarin Oriental, Paris and two prime street front retail units, currently leased to two luxury fashion brands, (collectively, the ‘Property’) from Société Foncière Lyonnaise. MOIL announced that the Group had paid a €10 million (US$13.1 million) advance deposit to secure the option, and, if the option is exercised, the Group will be required to pay a further €280 million (US$365.7 million) to acquire the Property (the ‘Transaction’). mony.