Home Inns buys Motel 168
October 07, 2011 | BY
clpstaff &clp articlesChina's largest operator of budget hotels, Home Inns & Hotel Management (Home Inns) has purchased Motel 168 International Holdings (Motel 168) from…
China's largest operator of budget hotels, Home Inns & Hotel Management (Home Inns) has purchased Motel 168 International Holdings (Motel 168) from Morgan Stanley and related shareholders. The target is China's fifth largest discount hotel operator.
The US$470 million cash-and-stock deal comprises US$305 million in cash and 8.2 million of Homg Inns' shares. The mandated lead arrangers included JP Morgan and Credit Suisse, which provided acquisition financing to the Nasdaq-listed acquirer.
The lead arrangers were advised by a Hong Kong-based Paul Hastings team that was led by Brett King. Linklaters also acted in this transaction.
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