9 December, 2015
BTG Hotels Group and Homeinns Hotel Group announced on December 7, 2015, that they have entered into a definitive agreement and plan of merger. Pursuant to the merger agreement, BTG Hotels and other members of the Buyer Group will acquire Homeinns for a purchase price that values Homeinns at approximately US$1.7 billion. The transaction is among the first of its kind due to its complexity and the multiple parties involved.
Skadden is serving as U.S. legal counsel to the Buyer Group, which consists of BTG Hotels, a PRC state-owned-enterprise listed on the A-share market in China, and its subsidiary Poly Victory Investments Limited, Ctrip.com International, Ltd., a leading travel service provider in China listed on Nasdaq, Neil Nanpeng Shen, Co-Founder and Co-Chairman of the Board of Directors of Homeinns and Co-Founder and Director of Ctrip, James Jianzhang Liang, Co-Founder and Director of Homeinns and Co-Founder, Chairman of the Board and Chief Executive Officer of Ctrip, and David Jian Sun, Chief Executive Officer and Director of Homeinns. The Skadden team includes partners Julie Gao, Michael Gisser, Clive Rough, and Will Cai, and associates Xi Shi, Richard Chang, and Nicholas Dumas.