China Lodging Group To Acquire Carlyle-Backed Orange Crystal For $531M

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Chinese hotel operator China Lodging Group Ltd. has agreed to acquire smaller rival Crystal Orange Hotels Group for RMB3.65 billion (US$531 million) from an investor group led by U.S. private equity giant the Carlyle Group, in a move that further pushes the country’s hospitality sectors to consolidate.

China Money Network

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