(Alliance News) - Millennium & Copthorne Hotels PLC left the London Stock Exchange on Friday following its takeover by City Developments Ltd.
The two agreed in June a 685 pence per share bid for the 44% of M&C that City Developments did not already own. The deal valued the entire hotel chain at GBP2.23 billion.
In August, M&C reported a 29% drop in pretax profit for the first half of 2019, as revenue slipped 1.0% to GBP472 million, mainly due to refurbishments at two hotels.
By George Collard; georgecollard@alliancenews.com
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