Shanghai Motels Sees Second Round Bids

Private equity firms have teamed up with several listed hotel chains in the second round of bidding for Chinese hotel group Shanghai Motel Management Co., Reuters reported. China Lodging Group Ltd bid with Bain Capital LLC, General Atlantic and local private equity firm CDH Investments, Reuters said. The Carlyle Group and Warburg Pincus are also reportedly teaming up with hotel chains in competing bids.

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