Jardine Matheson to Take Mandarin Oriental Private in Landmark USD 4.2bn Deal

In a bold move that underscores long-term confidence in Asia’s luxury travel sector, Jardine Matheson Holdings Ltd has announced a USD 4.2 billion deal to take full ownership of Mandarin Oriental International Ltd, the iconic hotel group it already majority owns. The acquisition, to be executed via a scheme of arrangement, will see Jardine Matheson acquire the remaining 11.96% stake it does not already hold through its wholly owned subsidiary, Jardine Strategic Ltd.

Under the terms of the offer, shareholders will receive USD 3.35 per share, comprising USD 2.75 in cash and a USD 0.60 special dividend. The special dividend is tied to Mandarin Oriental’s recently announced agreement to sell premium floors, rooftop signage, and 50 parking spaces at its One Causeway Bay property in Hong Kong to Alibaba Group and Ant Group for USD 925 million—a move that adds additional value to shareholders ahead of the delisting.

Founded over 60 years ago, Mandarin Oriental has earned a world-class reputation in high-end hospitality. It currently operates 43 hotels, 12 branded residences, and 26 private homes across 27 countries, with a strong pipeline of properties under development. The company is Hong Kong–based, with significant operations and a flagship presence in Singapore, and a historically rooted footprint throughout Southeast Asia. The brand is known for blending Asian heritage, luxury design, and local cultural influences to deliver unique guest experiences.

For Jardine Matheson, a diversified conglomerate founded in 1832 and incorporated in Bermuda, the move is part of a broader strategy to streamline its portfolio and unlock greater value from its core holdings. The group, which already owns 88.04% of Mandarin Oriental, stated that taking the company private will give the hospitality brand greater strategic flexibility, enabling it to pursue asset-light expansion, brand development, and operational growth without the short-term pressures of public markets.

Once the deal is finalised - expected by 28 February 2026, pending shareholder and regulatory approvals - Mandarin Oriental will delist from the London, Singapore, and Bermuda stock exchanges. The transaction marks one of the largest take-private deals in Asia’s hospitality sector, reflecting strong optimism in the recovery and future growth of the premium travel and lifestyle market.

Are you interested in M&A intelligence? Request a demo of our platform here