Mandarin Oriental International Limited (M04) said on Oct, 17 2025 that its controlling shareholder Jardine Matheson Holdings Limited (J36) has agreed to acquire the 11.96 % of the hotel group it does not already own through a scheme of arrangement valued at about 5.7 billion Singapore dollars.

The proposal will pay independent shareholders roughly 4.6 Singapore dollars per share, made up of 3.7 Singapore dollars in cash and a special dividend of 0.8 Singapore dollars that will be funded by the planned sale of part of One Causeway Bay in Hong Kong.

Separately, Mandarin Oriental has signed a definitive agreement to sell 301,555 sq ft—the top 13 floors—of One Causeway Bay, plus rooftop signage and 50 parking spaces, to Alibaba Group and Ant Group for about 1.3 billion Singapore dollars. Proceeds will finance the special dividend after repaying construction debt and related costs.

The takeover price represents a premium of 52 % to the stock’s last unaffected closing price on Sep, 29 2025. Subject to shareholder and court approvals, completion of the property sale is expected by Dec, 31 2025 and the privatisation is targeted to become effective by Feb, 28 2026, after which Mandarin Oriental intends to delist from the London, Singapore and Bermuda exchanges.

Jardine Matheson plans to fund the purchase with existing cash and committed facilities, and has secured irrevocable undertakings from holders of about 13 % of the independent shares to vote in favour of the scheme.