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New Deal


Announced

Shanghai Land Group to acquire Hyatt on the Bund from Shimao Group for $707m.

Financials

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Transaction Value£528m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

Private

Hotels and Motels

Disposal

hotel

Friendly

Acquisition

Single Bidder

Real Estate

China

Majority

Pending

Synopsis

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Shanghai Land Group, a real estate developer, agreed to acquire hotel property Hyatt on the Bund, Shanghai Hotel, from Shimao Group, a real estate developer, for $707m. The deal is part of the Chinese government's push to buy assets from cash-strapped private developers, as Beijing steps up efforts to stabilise and tighten control over a beleaguered sector that accounts for a quarter of its economy.

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