Hony buys $246m stake in Chinese hotel operator
Hony Capital has agreed to acquire a RMB15 billion ($246 million) stake in Chinese hotel company Shanghai Jin Jiang International Hotels Development.
According to a statement, the GP bought 100 million shares in Shanghai Jin Jiang at RMB15.08 apiece for a 12.43% stake in the business. The price represented a 23% discount to the company's Thursday close...
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