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BRIEF-City Developments Launches Takeover Offer For Millennium & Copthorne Hotels

June 7 (Reuters) - City Developments Ltd:

* CDL LAUNCHES TAKEOVER OFFER FOR MILLENNIUM & COPTHORNE HOTELS

* MAXIMUM CASH CONSIDERATION PAYABLE BY CDL AMOUNTS TO £776.29 MILLION

* OFFER IS FINAL AND WILL NOT BE INCREASED.

* FINAL OFFER VALUES ENTIRE ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL OF M&C AT ABOUT S$3.86 BILLION

* CASH CONSIDERATION TO BE FUNDED THROUGH COMBINATION OF INTERNAL CASH RESOURCES & FUNDS UNDER A CREDIT FACILITY

* CDL BELIEVES THAT IT WILL HAVE TO BECOME INCREASINGLY INVOLVED IN OPERATIONAL AND FINANCIAL MANAGEMENT OF M&C.

* WHEN FINAL OFFER BECOMES UNCONDITIONAL, M&C WILL APPLY FOR DE-LISTING FROM OFFICIAL LIST OF UK FINANCIAL CONDUCT AUTHORITY

* BARCLAYS BANK, MERRILL LYNCH (SINGAPORE) ACTING AS JOINT FINANCIAL ADVISERS; LINKLATERS LLP IS ACTING AS LEGAL ADVISER TO CDL Source text for Eikon: Further company coverage: