China M&A clampdown kills Jardines' HK hotel sale

The trading house's scrapped sale of a hotel on Hong Kong's storied Lot No. 1 shows Beijing's efforts to curb M&A in its targeted sectors are kicking in.

China M&A clampdown kills Jardines' HK hotel sale

The Mandarin Oriental International has scraped its planned sale of Hong Kong hotel, The Excelsior, putting a dampener on a record-breaking run of property deals in the financial hub.

The luxury hotelier, part of conglomerate Jardine Matheson, said bids for the four-star hotel had either not met its expectations or did not meet with its transaction requirements, according to a statement on Wednesday.

Beijing’s efforts to curb capital outflows by clamping down...

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