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Announced

Reliance to acquire a 73.37% stake in Mandarin Oriental New York for $98m.

Financials

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Transaction Value£72m
Consideration TypeCash
Capital Owned-
Capital Bid For73%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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real estate

Acquisition

Private

United States

Friendly

luxury hotel

Majority

Hotels and Motels

Cross Border

Single Bidder

Pending

Synopsis

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Reliance, a petrochemicals, synthetic fibers, fiber intermediates, textiles, blended yarn and polyester staple fiber manufacturer, agreed to acquire a 73.37% stake in Mandarin Oriental New York, a premium luxury hotel, for $98m. The closing of the transaction is anticipated to occur by the end of March 2022 and is subject to certain customary regulatory and other approvals and the satisfaction of certain other conditions.

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