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Vinaland : VNL – sells Movenpick Hotel, Hanoi

Vinaland has divested a number of its ‘hospitality investments’ (mostly smaller operating hotels) as well as Movenpick Hotel in Hanoi for US$ 19.9m (at a c 5% premium to their carrying value as at 31 March 2014). Since November 2012, VNL has been focused on asset realisation and the sale proceeds are to be deployed both as part of the share repurchase programme and to cover operating costs.

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