InterContinental Hotels Group PLC (IHG) announces the completion of the sale of InterContinental Hong Kong to Supreme Key Limited, a consortium of investors advised and managed by Gaw Capital Partners. IHG will continue to manage the hotel under a long-term management contract.
Gross disposal proceeds of $929 million have been received in cash, after initial working capital adjustments. The terms of the transaction are otherwise unchanged from those announced on 10 July 2015.
