Singaporean real estate company City Developments has made a final offer to buy out shareholders of Singapore -based hotel chain City Developments . City Developments said in a statement on Friday that it has made a final offer for the London-traded hotel chain at 685 pence per share, representing a 37 per cent premium to the June 6 closing price of 500 pence. . The deal, which would be worth $ 2.84bn , will go through if over half of the remaining shareholders agree, and would be for £ 6.85 ($ 8.67 ) per share, a 37% increase from the closing price of £ 5 on Friday . The hospitality firm, which operates 135 locations in the London , the Middle East and New Zealand among other countries, is already 37% owned by City Developments , Singapore 's second largest realtor.
Singaporean real estate company City Developments has made a final offer to buy out shareholders of Singapore -based hotel chain City Developments . The deal, which would be worth $ 2.84bn , will go through if over half of the remaining shareholders agree, and would be for £ 6.85 ($ 8.67 ) per share, a 37% increase from the closing price of £ 5 on Friday . The hospitality firm, which operates 135 locations in the London , the Middle East and New Zealand among other countries, is already 37% owned by City Developments , Singapore 's second largest realtor.