Oct 17 (Reuters) - Singapore-listed conglomerate Jardine

Matheson said on Friday its unit would buy the rest of

the shares of Mandarin Oriental it does not already

own, valuing the hotel investment and management firm at $4.2

billion.

The offer for 11.96% stake is priced at $3.35 per share and

would be funded through cash in hand.

The Hong Kong-based firm said its unit Jardine Strategic's

buyout would eventually lead to Mandarin's delisting from the

Singapore stock exchange.

The 193-year-old Jardine had delisted its second-largest

unit, Jardine Strategic, in 2021 as part of its restructuring

process.

In a separate announcement, Mandarin said it had been

contracted by Alibaba Group ( BABA ) and Chinese fintech firm

Ant Group for the acquisition of the top 13 floors

on Hong Kong's One Causeway Bay for a deal worth $925 million.

Both the prospective buyers were co-founded by Chinese

billionaire Jack Ma.

One Causeway Bay is Mandarin's prime mixed-use building,

located in one of Hong Kong's top retail and business hubs.