Pan-emerging markets private equity firm Actis has sold its minority stake in China-based budget and mid-range hotel chain Plateno Hotel Group to China-based hotel group Shanghai JinJiang International Hotels (JinJiang Hotels). The transaction took place as part of JinJiang Hotels’ acquisition of an 81 percent stake in Plateno at an enterprise value exceeding CNY10 billion (approximately US$1.53 billion). Financial details of Actis’s exit were not disclosed. Separately, Actis has agreed to sell its stake in Africa- and Middle East-focused payments company Emerging Markets Payments (EMP) to United Arab Emirates-based payments company Network International. Network International, which is backed by global private equity firms Warburg Pincus and General Atlantic, will reportedly pay US$340 million for EMP. This transaction is pending regulatory approval.