LN Holdings' M&A to accelerate comprehensive service layout of northwest regional destinations

Guangzhilv International Travel Agency Co., Ltd under Lingnan Holdings, announced on Dec 28 its strategic merger and acquisition of Xi'an Longzhilv Qinfeng Travel Agency. The move is an effort to accelerate a comprehensive service layout for northwest regional destinations.

The merger and acquisition press conference is held on Dec 28 in Xi’an, Shaanxi province in Northwest China.

The merger and acquisition was made on Dec 22. Guangzhilv acquired 51% equity of Xi'an Qinfeng in cash, and completed the strategic acquisition of Shanxi Hyundai CITS in the same period.

With this round of M & A, Guangzhilv has initially completed the construction of the destination service system in East China, Northwest China and North China.

Zhu Shaodong, president of Guangzhilv, makes a speech at the press conference.

Zhu Shaodong, president of Guangzhilv, said that Xi'an, Beijing, Shanghai, Wuhan and Chengdu are among the priorities in the national layout of Guangzhilv. The northwest regional operation center of Guangzhilv was previously deployed in Xi'an, capital city of Shaanxi province in Northwest China.

“The strategic acquisition of Xi'an Qinfeng will further consolidate the foundation of the northwest region, and is one of the important layouts to speed up the construction of the national destination service system of Guangzhilv,” Zhu said.

Press conference scene

Xi'an, with the world-famous terracotta warriors and horses made in the Qin dynasty (211-207 BC), is the starting point of the Silk Road, and has been ranked among the top tourist cities in China in recent years.

Guangzhilv International Travel Agency Co., Ltd., headquartered in Guangzhou, capital city of Guangdong province and established on December 5, 1980, is a travel agency with the largest scale, the strongest strength and the highest reputation in South China. Its businesses cover more than 100 countries and regions in the world.

Insiders in the Shaanxi tourism industry believe that the successful strategic M & A is of great value and significance in promoting the management and service quality of Shaanxi cultural tourism enterprises, and in expanding their sources of international and domestic tourists.