January 29, 2018 / 10:00 AM / 3 months ago

BRIEF-China Lodging Group Announces Acquisition Of Beijing Novotel Sanyuan And Ibis Beijing Sanyuan With TPG Capital

Jan 29 (Reuters) - China Lodging Group Ltd:

* CHINA LODGING GROUP, LIMITED ANNOUNCES ACQUISITION OF BEIJING NOVOTEL SANYUAN AND IBIS BEIJING SANYUAN WITH TPG CAPITAL ASIA

* ‍ANNOUNCED IT HAS FORMED A JOINT VENTURE WITH TPG CAPITAL ASIA​

* SAYS ‍CHINA LODGING DOES NOT EXPECT THIS TRANSACTION TO HAVE ANY SIGNIFICANT IMPACT ON ITS REVENUE AND PROFIT IN 2018​

* CHINA LODGING - JV ENTERED INTO SHARE PURCHASE AGREEMENT TO ACQUIRE 100% EQUITY INTEREST OF TWO HOTEL PROPERTIES IN BEIJING​

* CHINA LODGING - JV TO ACQUIRE NOVOTEL BEIJING SANYUAN AND IBIS BEIJING SANYUAN FOR RMB 1.18BN CASH FROM ASCENDAS HOSPITALITY TRUST (SINGAPORE) Source text for Eikon: Further company coverage: ( Bangalore.newsroom@thomsonreuters.com )

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