Jin Jiang Hotels announced on September 29 that it will acquire, through negotiated transfer, the 10% equity stakes in Vienna Hotel Co., Ltd. and Shenzhen Baisuicun Catering Chain Co., Ltd. held by Huang Deman, for a total transaction price of approximately 811 million yuan. Of this, 810 million yuan will be used to acquire the 10% stake in Vienna Hotels, and 953,600 yuan to acquire the 10% stake in Baisuicun Catering. After the transaction is completed, Jin Jiang Hotels' shareholding in both companies will rise from 90% to 100%, achieving full ownership. The acquisition funds will come from its own capital and bank loans. Jin Jiang Hotels stated that this acquisition is based on the need to continuously advance business integration, management integration, and structural integration in the China region, aiming to increase resource investment, optimize the business structure, promote cost reduction and efficiency improvement, and enhance overall profitability. Vienna Hotels was established in April 2004 and is mainly engaged in hotel operation and management, with brands including Venus Royal Hotel, Vienna International Hotel, and Vienna Hotel. Baisuicun Catering was established in March 2008 and is mainly engaged in chain catering operations. Huang Deman is the founder of Vienna Hotels Group, a native of Yangjiang, Guangdong, and currently serves mainly as executive director and general manager of Shenzhen Chuancheng Holdings Co., Ltd., Shenzhen Juhe Investment Consulting Co., Ltd., and Shenzhen Vienna Star Hotel Management Co., Ltd.
Shanghai Jin Jiang International Hotels Development Co Ltd AJin Jiang Hotels is acquiring the remaining 10% stakes in Vienna Hotels and Baisuicun Catering for ~811 million yuan, achieving full ownership to advance integration and profitability.
Shanghai Jin Jiang International Hotels Development Co Ltd BJin Jiang Hotels B shares represent the same company acquiring the remaining 10% stakes in Vienna Hotels and Baisuicun Catering for ~811 million yuan to reach full ownership.
Jin Jiang Hotels will acquire the remaining 10% stake in Baisuicun Catering for 953,600 yuan, taking its ownership from 90% to 100%.
Jin Jiang Hotels will acquire the remaining 10% stake in Vienna Hotels for 810 million yuan, taking its ownership from 90% to 100%.
