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ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Strategic Buyers
Keystone Buys Chinese Hotel Chain 7 Days for $688M

After the deal is completed, Keystone will be owned by new investors, including affiliates of Carlyle, Sequoia and Actis

Hotel company Keystone Lodging Co. Ltd. will acquire China-based 7 Days Group Holdings Ltd. (NYSE: SVN) in a deal valued at $688 million.

After the deal, Keystone will be owned by new investors, including affiliates of Carlyle Asia Partners II LP, Sequoia Capital China Growth 2010 Fund LP and an affiliate of Actis LLP, as well as other shareholders.

Guangzhou, China-based 7 Days Group converts and operates limited service economy hotels across major metropolitan areas in China.

The consortium will fund the deal with cash contributions from Carlyle, Sequoia, Actis and Boquan He, an existing shareholder, and a $120 million loan facility. The loan was arranged by Cathay United Bank, Chinatrust Commercial Bank Co. Ltd., Nomura International Ltd., Ta Chong Bank Ltd. and Taipei Fubon Commercial Bank Co. Ltd.

The deal is expected to close in the second half of 2013.

J.P. Morgan Securities (Asia Pacific) Ltd. is 7 Days’ special committee’s financial adviser, while Baker & McKenzie is serving as U.S. legal counsel, Maples and Calder is serving as Cayman Islands legal counsel and O’Melveny and Myers LLP is U.S. legal counsel. Shearman & Sterling is J.P. Morgan Securities’ legal counsel.

Nomura is the consortium’s financial adviser. Skadden Arps Slate Meagher & Flom LLP is counsel to the consortium of Keystone’s new investors. Conyers Dill & Pearman and Han Yi Law Offices are serving as Cayman Islands and China legal counsel to the consortium, respectively. Latham & Watkins LLP is shareholder He’s legal counsel.

Linklaters is serving as legal counsel to the financing banks.

 

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