The Business Times

Property

The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Property

SUBSCRIBERS

Jinjiang International buys 81% of Keystone Lodging

Hotel operator will fund acquisition with cash and loans

Published Mon, Sep 21, 2015 · 09:50 PM
Share this article.

Shanghai

JINJIANG International Hotels Development Co bought a controlling stake in the owner of 7 Days Group Holdings Ltd, two years after the economy hotel chain was delisted in New York.

Jinjiang International will pay 8.3 billion yuan (S$1.8 billion) for 81 per cent of Keystone Lodging Holdings Ltd, the owner of Plateno Group. Plateno took 7 Days private in 2013, with funding from Carlyle Group and Sequoia Capital China. The transaction gives Keystone an enterpr…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Property

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here