Brief: Hongkong and Shanghai Hotels updates on acquisition of Grosvenor's 50% economic interest
30/09/2016 11:19
Sept 30 (Reuters) - Hongkong and Shanghai Hotels Ltd
0045.HK
* HK&S Hotels-discloseable Transaction - Acquisition Of
Grosvenor's 50% Economic Interest In The Redevelopment Of 1-5
Grosvenor Place, Belgravia, London, The United Kingdom
* Number of agreements, amongst others, a termination and
release agreement and, a framework agreement were entered into
* Agreements to effect a restructuring of previous joint
venture arrangements in respect of London project
* Company acquired Grosvenor's 50% economic interest in
redevelopment of site and restructured London project
* Total consideration was funded from company's own
resources
* Deal for consideration for transaction is £107.5 million
Source text for Eikon: ID:nHKS9bcw7V
Further company coverage: 0045.HK
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