Announced
Completed
Financials
Tags
Private Equity
hotel management
Hotels and Motels
Domestic
Majority
China
Acquisition
Friendly
Public
Privatisation
Completed
Synopsis
Ocean Link and Sequoia Capital China, two private equity firms, completed the acquisition of Zhejiang New Century Hotel Management, a hotel management firm, for $670m. The offer is subject to approvals by shareholders and China’s regulators. The private equity firms commit a total of $194m to the offer, with Sequoia China contributing 68% of the fund and the rest comes from Ocean Link.
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