Millennium & Copthorne appoints advisers over takeover

3rd February 2025 By Staff Reporter | news@propertyticker.co.nz | @propertyticker

Millennium & Copthorne Hotels New Zealand Limited has appointed Cameron Partners Limited and Bell Gully to support its response to a takeover notice.

CDL Hotels Holdings New Zealand Limited, owned by Singapore-listed City Developments Limited, proposed on Monday to buy the remaining 24% of the hotel operator that it does not yet own for $2.25 per share, valuing Millennium & Copthorne at just over $237m.

Millennium & Copthorne recommended on Thursday “that shareholders do not take any action in respect of their shares until they receive a target company statement, including any recommendation from independent directors of MCK, and the independent adviser’s report”.

“Shareholders who are considering selling their shares before then are recommended to seek their own professional advice.”