Manila hotel sold
A Singapore-based company, SAPNA Holdings, Ltd, representing Brunei interests, paid SUS 7.3 (SNZIS.S) million in cash for the controlling interest of the deluxe Manila Mandarin hotel last Thursday, from the Development Bank of the Philippines. SAPNA bought the bank’s 62 per cent share after protracted talks which were first aborted because of disagreements with Hong Kong Land, the hotel’s operator and minority shareholder owning 29 per cent. Mr Ferry said although Hong Kong Land has the right to counter-offer the bank, it was unlikely it would be taken up. He understood that Hong Kong Land would continue to manage the hotel.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19850208.2.68.8
Bibliographic details
Press, 8 February 1985, Page 8
Word Count
104Manila hotel sold Press, 8 February 1985, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.