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New Deal


Announced

Completed

Ocean Link and Sequoia Capital China completed the acquisition of Zhejiang New Century Hotel Management for $670m.

Financials

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Transaction Value£490m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium24.7%
One Off Charge-

Tags

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Private Equity

hotel management

Hotels and Motels

Domestic

Majority

China

Acquisition

Friendly

Public

Privatisation

Completed

Synopsis

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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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