DLA Leads $1.3B Chinese Hotel Deal
Shanghai's Jinjiang International Hotel Group is buying an 81 percent stake in budget hotel chain 7 Days from investors including the Carlyle Group and Sequoia Capital.
September 22, 2015 at 01:21 AM
2 minute read
*Updated 10/6: This story is updated with Fenwick & West's role advising Plateno.
DLA Piper is advising state-controlled Shanghai Jinjiang International Hotel Group on a $1.3 billion acquisition of a majority stake in Chinese budget hotel chain 7 Days Group Holdings Ltd.
The Shanghai-based company is buying an 81 percent stake in 7 Day from Guangzhou-based Plateno Hotel Group, which is jointly owned by 7 Days cofounders Alex Zheng and He Boquan, the Carlyle Group Inc., Actis Capital and Sequoia Capital. The private equity firms are exiting their investment, made two years ago, as the remaining 19 percent stake will be held by Zheng and He.
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