CDL says it’s under 'no pressure' to divest assets after Millennium Hilton Seoul reported to sell for S$1.19 bil

CDL says it’s under 'no pressure' to divest assets after Millennium Hilton Seoul reported to sell for S$1.19 bil
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SINGAPORE (May 28): A spokesperson from City Developments Limited (CDL) says the group is “under no pressure” to divest any of its assets, despite it receiving “unsolicited offers” from time to time.

“We are constantly exploring divestment and acquisition opportunities as they arise, to enhance shareholder value. This is in line with the group’s strategy of capital recycling,” the spokesperson said.

“If there are material developments on divestment and acquisition matters, the group will issue an announcement.”  

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