7th Aug 2016 07:37
LONDON (Alliance News) - China's Anbang Insurance Group is considering a takeover offer for InterContinental Hotels Group PLC, the FTSE 100-listed owner of the Holiday Inn and Crowne Plaza hotel chains, according to the Sunday Times.
Anbang, owner of New York?s Waldorf Astoria, has held talks with City bankers about a potential bid, which would be one of the largest-ever Chinese deals in Britain, the newspaper reported.
Anbang is said to be in the early stages of considering an offer for IHG and has not yet made any formal approach to IHG, The Sunday Times reported. It said both IHG and Anbang declined comment.
http://www.thetimes.co.uk/edition/business/chinese-line-up-7bn-swoop-on-holiday-inn-giant-8r7bbgs68
In early April, Anbang withdrew from a USD14 billion bid for Starwood Hotels & Resorts Worldwide, which then was purchased by US rival Marriott International.
By Tom Waite; [email protected]; @thomaslwaite
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