Billionaire Kwek Leng Beng's CDL In Talks To Buy Paris Hotel [Forbes]
CITY DEVELOPMENTS S/ADR (CDEVY)
NASDAQ:AMEX Investor Relations:
ir.cdl.com.sg
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Source: Forbes
City Developments Ltd. (CDL)—controlled by billionaire Kwek Leng Beng and his family—is in talks to buy the Hilton Paris Opera hotel as the Singapore-based property giant seeks to expand its global hospitality footprint amid a post-pandemic travel boom. A unit of the company “is currently engaged in discussions on the potential acquisition of Hilton Paris Opera, a 268-room hotel located in Paris city center,” CDL said in an emailed reply to Forbes Asia 's query. The potential deal was first reported by real estate website Mingtiandi, which cited unnamed sources as saying that City Developments is buying the property from the Blackstone Real Estate Partners Europe IV fund for €244 million ($265 million). “The group continues to pursue strategic acquisition opportunities to grow our footprint across key hospitality markets,” the company said. “This potential acquisition presents a rare opportunity to expand the group's hospitality presence in a key European gateway city, ahead of t
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News
- City Developments Limited's (SGX:C09) market cap surged S$284m last week, private companies who have a lot riding on the company were rewarded [Yahoo! Finance]Yahoo! Finance
- Billionaire Kwek's CDL Steps Up Divestments With Singapore Mall Sale [Forbes]Forbes
- Singapore's URA Accepts Billionaire Cousins' Low Bids For Housing Sites [Forbes]Forbes
- CDL, GuocoLand Backed JVs Submit Sole Bids For Singapore Housing Sites As Demand Slows [Forbes]Forbes
- Should You Think About Buying City Developments Limited (SGX:C09) Now? [Yahoo! Finance]Yahoo! Finance