Carlyle Leads Sweetened $688M Buyout Of Chinese Hotel Co.

Law360, New York (February 28, 2013, 5:32 PM EST) -- Carlyle Group LP is teaming with other private equity investors and board members to buy 7 Days Holding Ltd., a U.S.-listed Chinese budget hotel chain in a sweetened deal worth $688 million, the parties said Thursday.

The buyers will pay $13.80 per American Depositary Share, each worth three ordinary shares. That's up from an initial offer of $12.70 and represents a 30 percent premium over the stock's closing price on Sept. 25, the day before the buyout group made its first pass. The purchase price is...
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