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Legend-Backed Payment Platform Lakala Files for ChiNext Listing

Beijing-based third-party payment platform Lakala Payment Co., Ltd., backed by Chinese Legend Holdings, is planning for listing on ChiNext, the NASDAQ-style bourse of the Shenzhen Stock Exchange, after the company’s planned back-door listing via a reverse merger with Shanghai-listed Tibet Tourism failed to materialize.

AMC To Acquire Odeon & UCI Cinemas From Terra Firma

AMC Entertainment Holdings, Inc., the U.S. cinema chain owned by Dalian Wanda Group, has agreed to acquire London-based Odeon & UCI Cinemas Group from private equity firm Terra Firma in a transaction valued at approximately £921 million (US$$1.2 billion). The deal, if completed, will make AMC the largest cinema operator globally with over 7,600 screens. It will also provide an exit for Terra Firma on a 12-year-old investment. Terra Firma bought Odeon in 2004 for €650m to merge with UCI, …

Venture-Backed 51Talk Seeks US IPO

Venture-backed China Online Education Group, the operator of online English language education firm 51Talk, has filed for an initial public offering in the U.S., according to a securities filing.

Carlyle To Exit As Zhongmei Healthcare Seeks HK IPO

Chinese hospital operator Zhongmei Healthcare Group, in which the Carlyle Group made a US$64 million investment, is seeking an initial public offering in Hong Kong. In a securities filing, Zhongmei says Carlyle made a US$64 million pre-IPO investment to take a 15.7% stake of the company in January 2016. In the planned IPO, the company is aiming to sell 25% of itself to the public. Pricing and other financial details have not been determined. Zhongmei Healthcare owns three specialty hospitals …

CITIC PE, Hony To Exit Happigo Home Shopping

Chinese private equity firms Hony Capital, CITIC Private Equity and Sequoia Capital plan to fully exit their stakes in Shenzhen-listed Happigo Home Shopping at massive profit, according to a disclosure document (in Chinese).

Actis Exits Chinese Hotel Group Via Shanghai JinJiang Hotel Deal

London-headquartered Actis has sold its minority stake in Plateno Hotel Group, formerly 7 Days Group, to Shanghai JinJiang International Hotels Development Co., Ltd., according to a company announcement. JinJiang Hotels has acquired an 81% stake in Plateno at an enterprise value exceeding RMB10 billion (US$1.53 billion) in a transaction including other undisclosed selling shareholders. Following the latest acquisition, JinJiang Group will become one of the top five hotel operators in the world, with over 6,000 hotels in 55 countries and …