Jin Jiang weighs bid for $2b Radisson Hotel Group

Hong Kong, Beijing: Chinese hospitality provider Jin Jiang International Holdings Co. is weighing a bid for Radisson Hotel Group, the global chain owned by HNA Group Co, people with knowledge of the matter said. Jin Jiang, which is controlled by the Shanghai government, is in the early stages of considering a potential offer, according to the people. HNA could fetch at least $2 billion (Dh7.34 billion) from a sale of Minneapolis-based Radisson, which may also attract other bidders, the people said, asking not to be identified because the information is private. Shares of the Chinese hospitality group’s main publicly traded arm, Shanghai Jin Jiang International Hotels (Group) Co, fell as much as 8.2 per cent on Thursday in Hong Kong.