Home > Destinations > Chinese real estate firm acquires 90.5% stake in luxury travel firm A&K

Chinese real estate firm acquires 90.5% stake in luxury travel firm A&K

05/09/2017| 10:47:03 AM| ChinaTravelNews 中文

Chinese real estate and investment company Zhonghong Group announced on May 8 that it plans to acquire a 90.5% stake in luxury travel company Abercrombie & Kent (A&K) for USD 412.49 million.

The deal will be paid through Zhonghong's overseas subsidiary Neo Dynasty in cash, according to the announcement.

A&K's original owners include U.S.-based hedge fund manager Fortress Investment Group. 

Founded more than 50 years ago, A&K has become a major player in luxury tourism, providing high-end expeditions in more than 100 countries.

Zhonghong develops and operates leisure and vacation real estate, primarily in Beijing and Hainan Province.

TAGS: Zhonghong | Abercrombie & Kent | A&K | luxury travel
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