3 March, 2017
Davis Polk is advising China Lodging Group in connection with its agreement to acquire all of the equity interests of Crystal Orange Hotel Holdings Limited for approximately RMB3.65 billion ($531 million) from the Carlyle Group and other shareholders. The closing of the transaction is subject to the approval from the Antitrust Bureau of Ministry of Commerce of China.
China Lodging Group is a leading hotel operator and franchisor in China under 12 brand names with a primary focus on economy and mid-scale hotel segments and has 3,269 hotels in operation in 367 cities in China. Crystal Orange is a leading boutique hotel operator in China founded in 2006, headquartered in Beijing, with more than 100 hotels located primarily in large cities in China.
The Davis Polk team includes partner Howard Zhang, registered foreign lawyer Lijun (Annie) Yan and associate Mo Zhou. Partner Paul Chow is providing Hong Kong law advice. Counsel Terrence R. O'Donnell is providing corporate and financing related advice. Members of the Davis Polk team are based in the Beijing and Hong Kong offices.
