South Beauty Group chairwoman Zhang Lan denied media reports that her high-end restaurant chain had been acquired by the London-based private equity firm CVC Capital Partners, Global Times reported Sunday. The Anti-Monopoly Bureau of the Ministry of Commerce said in a statement released Saturday that it had approved La Dolce Vida Fine Dining Group Holdings, owned by CVC Capital, to buy South Beauty Investment Company. But Zhang, who founded the chain in 2000, said she was not selling, according to the report. The commerce ministry approved the CVC deal on Nov. 14, 2013, according to a statement on the ministry’s website. But that does not mean the transaction has been completed, Zhao Jingqiao, secretary-general of the Research Center of Service Economy and Catering Industry at the the Chinese Academy of Social Sciences, was quoted as saying.
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