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Sino Land: Hotel Spin-off (A)  
 
Product Ref: 98/23C Company: Sino Land

Product Type: Case Industry: Hotels, Restaurants, Leisure
Real Estate

Related Product(s): Teaching Note
Authors: Ko Wang   Su Han Chan   Probir Banerjee
In early 1995, Sino Land, the best known second tier property developer in Hong Kong, was studying the possibility of a spin-off of its hotels and hospitality division into a separately listed firm. Sino Land initially concentrated on property and began hotel operations in 1985 while expanding into China in 1989. Under the proposed de-merger, the new holding vehicle, Sino Hotels (Holdings), would inherit equity interests in a number of hotels and restaurants. It was also scheduled to list on the Hong Kong Stock Exchange after elevation of Sino Land to a blue chip Hang Seng Index constituent stock on 28 February, 1995. The case looks at the rationale and the timing of the spin-off and investigates whether the event resulted in an increase in Sino Land's stock market value and improvements in its business.
Functional Area : Finance & Investments
Human Resource Management

Issues: Restructuring, Spin-Off
Length: 22 pages Country: Hong Kong SAR

Pub. Year: 1999 Level of Difficulty: 1
         
This product type is available in the following language(s):      English
         
Related Information: Sino Land - Hotel Spin-off (B) is a logical progression from the (A) case.
 
This case is UGC funded.
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