Independent Board Backs the Deal
A committee of independent directors, advised by Morgan Stanley Asia Ltd., unanimously endorsed the proposal, urging shareholders to approve it. Jardine Matheson already secured irrevocable undertakings from investors representing 13.46% of independent shares.
To move forward, the transaction must win over at least 75% of independent shareholders at a Bermuda court meeting. Completion is slated for February 28, contingent on final conditions — including the completion of the One Causeway Bay property sale.
End of an Era on Global Exchanges
Once the deal closes, Mandarin Oriental’s listings in London, Singapore, and Bermuda will be canceled, marking the hotel icon’s exit from public markets and entry into Jardine Matheson’s private portfolio.
The move, Jardine Matheson said, will “simplify the group’s structure” and reaffirm its long-term commitment to the Mandarin Oriental brand, whose reputation for timeless luxury spans continents.
Linklaters LLP is advising Jardine Matheson, while Slaughter and May represents Mandarin Oriental’s transaction committee.
