MGM China Acquires All Shares of MGM Asia Pacific for $20 Million on June 30

According to Zhitong Finance, on June 30, MGM China (02282) signed a share purchase agreement with MGM Hospitality International Holdings, Ltd. to acquire all issued shares of MGM Asia Pacific Limited for $20 million. The target company, established in 2006, operates 8 hotels in mainland China and maintains a project pipeline of over 12 active projects. MGM Asia Pacific manages approximately 1.5 million members in its loyalty program.
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