You are here

Anbang is not considering an offer for InterContinental: spokesman

Monday, August 8, 2016 - 07:34

[BENGALURU] Anbang Insurance Group Co is not considering an offer for InterContinental Hotels Group Plc, Chris Winans, a representative for the Chinese company said on Sunday, rejecting a media report that a takeover bid was in the works.

The Sunday Times reported that Anbang has held talks with bankers about an offer to buy the Holiday Inn and Crowne Plaza hotel chains owner. Anbang is said to be in the early stages of considering an offer for InterContinental, and has not yet made any formal approach, The Times said.

InterContinental could not be immediately reached for a comment outside regular business hours. Mr Winans made no further comment.

Anbang dropped its pursuit of Starwood Hotels & Resorts Worldwide Inc in March, ending a bidding war with Marriott International Inc.

REUTERS