(Alliance News) - Millennium & Copthorne Hotels PLC said on Wednesday that its subsidiary has agreed to sell the stake in the Millennium Cincinnati hotel.
The undisclosed buyer is a Cincinnati-based development company, which is yet to finalise its due diligence review, Millennium said.
The deal would fall below the level of a class two transaction outlined by the UK's Financial Conduct Authority's listing rules. No financial details of the deal were disclosed.
Shares in Millennium closed flat at 680.00 pence each in London on Wednesday.