Carlyle Acquires Controlling Stake In Chinese Hotel Co.

Law360, Washington (July 5, 2012, 1:49 PM EDT) -- The Carlyle Group LP has purchased a controlling stake in Chinese designer hotel manager Mandarin Hotel Holdings Ltd., a player in the country's midlevel hotel industry, the private equity giant announced Thursday.

Carlyle won't own the majority of the company, but it will be the largest Mandarin shareholder, the firm said. As part of the deal for the 49 percent, Carlyle Managing Director Eric Zhang will become the co-chairman of Mandarin. Capital for the investment came from Carlyle's Asia buyout fund Carlyle Asia Partners III LP,...
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