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Jin Jiang International considering bid for Radisson Hotel Group
Chinese hotel group Jin Jiang International Holdings is reportedly mulling a bid for Radisson Hotel Group.
It is currently owned by cash-strapped HNA Group Co and a sale could fetch about $2 billion, according to Bloomberg, citing sources.
HNA has been offloading assets as it deals with huge debts and has been actively exploring a sale of Minneapolis based Radisson.
.Jin Jiang is a major hospitality player and owns a 12.3% stake in France based Accor SA.
It also has controlling stakes in Louvre Hotels and India’s Sarovar Hotels.
No final decisions have been made, and Jin Jiang may still decide against an acquisition, people familiar with the matter told Bloomberg.
HNA bought the then-named Carlson Hotels Inc in 2016.
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