CVC-Backed Da Niang Dumplings To Be Sold To Chinese Hotel Group

Chinese fast food restaurant chain Da Niang Dumplings Holdings Ltd., which CVC Capital Partners bought out in 2013, is being sold to Chinese hotel group GreenTree Inns Hotel Management Group, Inc., according to a disclosure statement posted on the website of Ministry of Commerce's anti-monopoly bureau.

A unit of GreenTree, a Shanghai-based budget hotel group, is to acquire 100% shares of Da Niang Dumplings, which operates over 400 restaurants across China. Financial details were not disclosed.

What's noteworthy is that GreenTree is buying the shares from Da Niang Dumplings, not from CVC Capital, which means CVC may have sold its control stakes in Da Niang Dumplings prior to this deal.

CVC did not immediately respond to a China Money Network inquir...

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