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Great Eagle Holdings Ltd Taps HSBC, Deutsche For $800 Million Hotel Spinoff-Reuters


Tuesday, 5 Feb 2013 05:19am EST 

Reuters reported that Great Eagle Holdings Ltd has mandated HSBC Plc and Deutsche Bank AG to lead a proposed $800 million Initial Public Offering (IPO) for its full-service hotel business, IFR reported on, citing sources with knowledge of the plans. Other banks are expected to be added to the team handling the IPO, which is slated to take place in the third quarter of the year, added IFR, a Thomson Reuters publication. Great Eagle said in a January 24 securities filing it plans to spin off its Hong Kong properties, which include the upscale Langham, Langham Place and Eaton hotels, giving no details on the proposed size of the deal. The Company expects to list the business through a share stapled unit structure, similar to business trusts in Singapore, and own at least 51% of the units after the offering. 

Company Quote

25.35
0.05 +0.20%
24 Dec 2014