Brief: Huazhu Group Limited Announces Formation Of Joint Venture With Sunac China Holdings Limited And Strategic Partner

H World

22/03/2021 11:41

March 22 (Reuters) - Huazhu Group Ltd  1179.HK :
    * HUAZHU GROUP LIMITED ANNOUNCES FORMATION OF JOINT VENTURE
WITH
SUNAC CHINA HOLDINGS LIMITED AND STRATEGIC PARTNER
    * HUAZHU GROUP - EACH OF HUAZHU HOSPITALITY (HONG KONG)
LIMITED,
SUNAC, STRATEGIC PARTNER HOLDS 50%, 40%, 10% OF EQUITY INTERESTS
IN JV, RESPECTIVELY
    * HUAZHU GROUP LTD - JV IS A NON-WHOLLY OWNED SUBSIDIARY OF
HUAZHU
    * HUAZHU GROUP - JV WILL PROVIDE HOTEL MANAGEMENT SERVICES
TO
SUNAC'S FEASIBLE HOTEL PROPERTIES, POTENTIAL HOTEL PROPERTIES OF
THIRD PARTIES
    * HUAZHU GROUP LTD -  JV COMPANY, NAMED AS YONGLE HUAZHU
HOTEL &
RESORT GROUP,  HAS A TOTAL REGISTERED CAPITAL OF RMB 50 MILLION

Source text for Eikon:  ID:nGNX5WBZNJ 
Further company coverage:  1179.HK 

 ((Reuters.Briefs@thomsonreuters.com;))