Yicai.com
7 Days Group Holdings Limited SVN will possibly complete the privatization and get delisted from the New York Stock Exchange (NYSE) within a month.
The buyer group formed by founder of 7 Days, Carlyle Group and Sequoia Capital China has secured USD 120 million in overseas financing, according to the New York-listed company. 7 Days got go-ahead from its shareholders to go private at the end of this June, a move that will get it delisted from the stock market.
7 Days plans to develop multi-brand strategy after the deal, creating a series of medium-end hotel brands and marching into the high-end hotel market for business expansion.