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February 24, 2011

Morgan Stanley to Sell Chinese Motel Chain

Morgan Stanley has unveiled a plan to sell the Chinese motel chain Shanghai Motel through a deal that is expected to fetch $1bn. In 2006, Morgan Stanley spent $20m on a 20% stake of Shanghai Motel Management, which operates the Motel 168 brand through one of the investment bank's re

By cms admin

Morgan Stanley has unveiled a plan to sell the Chinese motel chain Shanghai Motel through a deal that is expected to fetch $1bn.

In 2006, Morgan Stanley spent $20m on a 20% stake of Shanghai Motel Management, which operates the Motel 168 brand through one of the investment bank’s real-estate funds.

Morgan Stanley holds a 59% stake in the Chinese hotel chain, which operates 266 motels, of which 108 are franchise operations.

The bidding for the hotel chain is expected within a month and the potential bidders for the transaction include Home Inns & Hotels Management, according to Wall Street Journal.

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