Slaughter and May advised the Mandarin Oriental International Limited (“Mandarin Oriental”) Transaction Committee on the recommended cash acquisition by Jardine Strategic Limited (“Jardine Strategic”), a wholly-owned subsidiary of Jardine Matheson Holdings Limited (“Jardine Matheson”), of the 11.96 per cent. of Mandarin Oriental’s total issued share capital which Jardine Strategic did not already own (the “Acquisition”). The Acquisition was jointly announced by Mandarin Oriental and Jardine Matheson on 17 October 2025. Following the satisfaction of certain conditions, including the sanctioning of a scheme of arrangement relating to the Acquisition (the “Scheme”) by the Bermuda court, the Scheme became effective and the Acquisition completed on 19 January 2026.
Following the Acquisition becoming effective, the independent Mandarin Oriental shareholders (“Independent Mandarin Oriental Shareholders”) are entitled to receive US$3.35 in cash in respect of each Mandarin Oriental share held, comprising, US$2.75 in cash and a special dividend of US$0.60 in cash (together, the “Total Value”). The special dividend was payable to all Mandarin Oriental shareholders following the acquisition by Alibaba Group and Ant Group of the top thirteen floors of One Causeway Bay as their headquarters in Hong Kong, together with the building’s rooftop signage and 50 parking spaces of One Causeway Bay for US$925 million (the “OCB Sale”), completion of which was announced by Mandarin Oriental on 31 December 2025.
The Total Value values the entire issued ordinary share capital of Mandarin Oriental (prior to the payment of the special dividend) at approximately US$4.2 billion.
Tean Manser / Trainee