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Millennium & Copthorne Hotels PLC's Subsidiary To Acquire Plot Of Land

Friday, 18 Jan 2013 02:00am EST 

Millennium & Copthorne Hotels PLC announced that its wholly owned subsidiary, CDL Hotels (Korea) Ltd, has entered into a conditional sale and purchase agreement with Woo Yang Industrial Development Co Ltd to acquire a plot of land with a total area of 1,563.7m2, adjacent to the Millennium Seoul Hilton Hotel in Korea, for a cash consideration of KW29.5 billion (around GBP17.23 million). The Millennium Seoul Hilton Hotel is owned by M&C. Completion is expected to take place in the second quarter of 2013. 

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11:35am EDT