Aegis Asset Management Acquires Namsan Hilton Hotel
[Asia Economy Reporter Jang Sehee] Aegis Asset Management is pursuing the acquisition of the Millennium Hilton Seoul located in Namsan.
According to the hotel industry on the 18th, Aegis Asset Management recently signed a memorandum of understanding with CDL Hotel Korea, the largest shareholder of Millennium Hilton, for the acquisition of Millennium Hilton Seoul.
The two parties will decide on the final contract through subsequent negotiations.
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Meanwhile, the predecessor of Millennium Hilton, Hilton Seoul, opened in December 1983 with 22 floors and approximately 700 rooms. It was operated by Daewoo Development, an affiliate of the Daewoo Group, until the end of 1999, when it was sold to CDL Hotel, a subsidiary of Hong Leong, a Singapore real estate investment company, for 260 billion KRW.
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