Eversheds has advised on the acquisition of Pental Hotel Holdings, a German hotel management company, by New World China.
New World China is one of the leading national developers in Mainland China with a total of HKD 117.8 billion in assets. It acquired Penta Hotel Holdings, which manages 24 Pentahotels in Austria, Belgium, Czech Republic, Germany, and the United Kingdom, for approximately EUR 13.5 million.
The deal involved Eversheds' Hong Kong, German, and Brussels offices. The team in Hong Kong was led by Partner Stephen Mok while Partner Alexander Honrath led the German contingent. According to Honrath, “this transaction is one of several Sino-German M&A transactions taking place at the moment, as the market continues to pick up activity. Our German China desk is currently advising around 25 different Chinese clients in the German market on various matters as cross border activity remains strong.”