Hogan Lovells and Sweden-based Lindahl have advised HNA Tourism Group – a unit of Chinese aviation and shipping conglomerate HNA Group – in its buyout of U.S-based hospitality chain Carlson Hotels, which was represented by Freshfields Bruckhaus Deringer and Vinge.

HNA Tourism Group will also get Carlson’s 51.3 percent stake in Sweden-based Rezidor Hotel Group AB as part of the agreement. HNA will secure hotel brands including Radisson, Park Plaza, Country Inns & Suites and gain 1,400 hotels in 115 countries, boosting its current portfolio of 500 hotels.

Advising HNA on the deal was Hogan Lovells' cross-border team led by partners Peter Ivanick, José Maria Balañá and Jun Wei. The Freshfields team was led by partners Peter Lyons in New York and Stephen Hewes in London.

The companies did not disclose the deal value, although Bloomberg estimates that Carlson could fetch about $2 billion.

The deal is latest among a string of overseas acquisitions by Chinese businesses, picking up assets from chip manufacturers to chemical firms as they diversify out of their slumping home market. In February, HNA acquired U.S.-based electronics distributor Ingram Micro for $6 billion.

Founded in 1993, HNA has grown into a group with nearly $100 billion in assets and launched at least $8 billion of overseas M&A so far this year.