The Peninsula Hotel in Tsim Sha Tsui, Kowloon. Photo by: Dukas/Universal Images Group via Getty Images
The Peninsula Hotel in Tsim Sha Tsui, Kowloon. Photo by: Dukas/Universal Images Group via Getty Images

Hong Kong tycoon Kadoorie to boost stake in Peninsula hotel operator for US$337 million, triggering a record stock rally

  • Agreement to buy additional shares in Hong Kong and Shanghai Hotels is subject to a waiver from making a takeover offer for the rest of company
  • The Kadoorie family also controls CLP, which supplies electricity to about 80 per cent of Hong Kong’s population

The Peninsula Hotel in Tsim Sha Tsui, Kowloon. Photo by: Dukas/Universal Images Group via Getty Images
The Peninsula Hotel in Tsim Sha Tsui, Kowloon. Photo by: Dukas/Universal Images Group via Getty Images
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