UK Bass Plc acquires Regent Hotel from New World Development for HK$2.7 bln

It was reported by foreign sources that the UK hotel group Bass Plc announced to have acquired the shareholdings of Regent Hotel, which was the subsidiary of New World Development (0017), for ¢G241 mln (circa HK$2.706 bln). The EBITDA of Regent Hotel till late June, 2001 was expected to be ¢G22 mln.

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