Homeinns Enters Into Merger Deal - Quick Facts

(RTTNews) - Homeinns Hotel Group (HMIN), a leading economy hotel chain in China, announced it has entered into a definitive Agreement and Plan of merger with BTG Hotels Group HONGKONG Holdings Co., a subsidiary of BTG Hotels (Group) Co., Ltd., and BTG Hotels Group (CAYMAN), a wholly owned subsidiary of BTG Hotels Group HONGKONG. BTG Hotels Group HONGKONG will acquire Homeinns, other than Rollover shares, for cash consideration of $17.90 in cash per ordinary share or $35.80 in cash per ADS.

The Rollover shareholders beneficially own in aggregate approximately 34.9% of the issued and outstanding Shares. BTG Hotels, BTG Hotels Group HONGKONG and the rollover shareholders entered into a Support agreement, pursuant to which the Rollover shareholders have agreed: to vote all of their respective Shares in favor of the authorization and approval of the Merger agreement; and to receive no cash consideration in the merger with respect to the Rollover shares.

BTG Hotels Group CAYMAN will merge with and into Homeinns, with Homeinns surviving the merger as the surviving company.