Chinese Budget Hotel Chain To Go Private In $634M Cash Deal

Law360, New York (September 27, 2012, 3:04 PM EDT) -- A consortium of private equity firms, including the Carlyle Group and Sequoia Capital China, are joining forces with director shareholders to take hotel chain 7 Days Group Holdings Ltd. private in a deal that values it around $634.7 million, 7 Days announced Thursday.

In an all-cash deal to be funded by a mix of equity and third-party debt, the group is offering $4.23 for each ordinary share of the hotel company and $12.70 for each American Depositary share, according to 7 Days.

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