November 2025 top M&A deals in ASEAN markets
Insights
London, Bermuda and Singapore-listed Jardine Matheson announced it will acquire the remaining 11.96% stake in Mandarin Oriental International for USD 4.2bn through a scheme of arrangement, offering shareholders USD 3.35 per share (USD 2.75 in cash and a USD 0.60 special dividend). The move will delist Mandarin Oriental from major exchanges. In parallel, Mandarin Oriental is divesting parts of One Causeway Bay in Hong Kong to Alibaba and Ant Group for USD 925mn. The transaction supports Jardine’s strategy to consolidate ownership in premium hospitality assets and sharpen its portfolio focus.
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