Beijing Tourism Group Co., Ltd. cancelled the acquisition of an additional 10% stake in Beijing Shouqi Co., Ltd. from BTG Hotels Co., Ltd..
August 24, 2018
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Beijing Tourism Group Co., Ltd. agreed to acquire an additional 10% stake in Beijing Shouqi (Group) Co., Ltd. from BTG Hotels (Group) Co., Ltd. (SHSE:600258) for approximately CNY 190 million on August 25, 2017. Prior to the transaction, Beijing Tourism Group Co., Ltd. held 77.73% stake and BTG Hotels (Group) Co., Ltd. held 10% stake in Beijing Shouqi (Group) Co., Ltd. After the transaction, BTG Hotels (Group) Co., Ltd. will hold no stake in Beijing Shouqi (Group) Co., Ltd. The transaction need not be submitted to the shareholders' meeting for consideration. The Board of Directors of BTG Hotels (Group) Co., Ltd. approved the transaction. Beijing Tianjian Xingye Assets Appraisal Co., Ltd. acted as the appraiser in the transaction.
Beijing Tourism Group Co., Ltd. cancelled the acquisition of an additional 10% stake in Beijing Shouqi (Group) Co., Ltd. from BTG Hotels (Group) Co., Ltd. (SHSE:600258) on August 25, 2018.
BTG Hotels (Group) Co., Ltd. is a China-based company mainly engaged in the operation and management of hotels. The Company mainly operates through two business segments: the Hotel Businesses segment and the Scenic Businesses segment. The hotel operation businesses mainly include the operation of hotels and the leasing of hotel properties. The hotel management businesses mainly include the brand franchise and other franchise businesses. The Company mainly operates brands of Home Inn, Motel, Fairyland, among others.