Great Eagle to spin off hotel business
(03-11 19:39)
Great Eagle Holdings (0041) -- the company that owns the Langham hotel chain -- has applied to spin off its hotel business in Hong Kong and list it separately.
The company owns three hotels - two Langhams and the Eaton. Great Eagle said the move would unlock the value of its hotel business, giving it an additional channel for future fund raising, RTHK reports.
New World Development (0017) is also planning to spin off some of its hospitality assets in a listing, seeking to raise up to US$1 billion.
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