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GreenTree Management Weighing Take-Private With CICC Capital

  • Chinese hotel chain shares tumbled about 60% in the past year
  • Covid-19 lockdowns in China bringing travel sector to a halt
Updated on

The management of GreenTree Hospitality Group Ltd. is considering teaming up with a buyout firm for an offer to take the New York-listed Chinese hotel chain private, according to people familiar with the matter.

CICC Capital is working with the firm’s management on the possible buyout bid, the people said, asked not to be identified discussing confidential information. The consortium has been discussing a potential offer at a premium of at least 30% to GreenTree’s recent share price, the people said.