This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

7 Days Group Holdings Limited Special Committee Appoints Financial Advisor And Legal Counsel

GUANGZHOU, China, Oct. 31, 2012 /PRNewswire-FirstCall/ -- 7 Days Group Holdings Limited (NYSE: SVN; "7 Days Group" or the "Company"), a leading economy hotel chain based in China, announced today that the special committee of the Company's board of directors (the "Special Committee"), consisting of Mr. Tan Wee Seng and Mr. Bin Dai, has retained J.P. Morgan Securities ( Asia Pacific) Limited ("J.P. Morgan") as its financial advisor and Baker & McKenzie as its United States legal counsel.

J.P. Morgan and Baker & McKenzie will assist the Special Committee in reviewing and evaluating the preliminary non-binding proposal received from the Company's co-founders and co-chairmen of its board of directors, Mr. Boquan He and Mr. Nanyan Zheng, and their respective affiliates, Sequoia Capital China and affiliates of the Carlyle Group (collectively, the "Consortium Members") on September 26, 2012, to acquire all of the outstanding shares of the Company not currently owned by the Consortium Members in a going private transaction (the "Proposed Transaction"). J.P. Morgan and Baker & McKenzie will also assist the Special Committee in reviewing and evaluating any additional proposals that may be made by the Consortium Members or other parties, if any.

O'Melveny & Myers LLP is acting as the Company's legal counsel and Maples & Calder is acting as the Company's outside counsel for matters relating to Cayman Islands law.

The Special Committee has not set a definitive timetable for the completion of its evaluation of the Proposed Transaction or any other alternative transaction (if any) and does not currently intend to announce developments unless and until an agreement has been reached.  However, there can be no assurance that any definitive offer will be made, that any agreement will be executed or that the Proposed Transaction or any other transaction will be approved or consummated.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs