30 September, 2015
DLA Piper has advised client Shanghai Jin Jiang International Hotels ("Jin Jiang"), a leading hotel group in China, on its strategic investment in Plateno Group for approximately US$ 1.3 billion, giving it an 81% stake in the company. The deal values Plateno Group at 10.8 billion yuan.
Plateno Group operates hotels across China through a series of brands covering the full spectrum of the market, including 7 Days, Portofino and Lavande. Upon completion of the acquisition, Jin Jiang will be operating over 6000 hotels in 55 countries and will become the 5th largest hotel group globally.
Roy Chan, partner at DLA Piper in Shanghai said: "This is a great deal for our client Jin Jiang and demonstrates the growth and ambition of the company, we were pleased to be part of this important deal for them, and act as an extension of the Jin Jiang team."
Roy Chan (partner, Shanghai) led the team, supported by Anderson Lam (Partner, Hong Kong), Yiyun Tang (Senior Associate, Shanghai), Luanne Lu (Senior Associate, Shanghai), Wu Sheng (Foreign Legal Consultant, Hong Kong), Yulan Ouyang (Associate, Shanghai) and Carmen Che (Associate, Hong Kong).