New York - based hotel , restaurant and restaurant operator SBE has confirmed it is in advanced merger talks with Taiwan - based Hakkasan Group . In 2015, SBE announced a deal to sell the Katsuya and Cleo restaurant brands to One Group Hospitality Inc. as part of a move toward a more asset-light operation. No financial details of the deal , which could close in the next 30 days , have been released , but the combined firms would have an estimated value of $ 1bn . SBE 's portfolio includes the SLS , The Redbury and Morgan hotels , as well as the Umami Burger , Cleo and Katsuya brands , while Hakkasan Group operates brands including Herringbone and Searsucker .
New York - based hotel , restaurant and restaurant operator SBE has confirmed it is in advanced merger talks with Taiwan - based Hakkasan Group . No financial details of the deal , which could close in the next 30 days , have been released , but the combined firms would have an estimated value of $ 1bn . SBE 's portfolio includes the SLS , The Redbury and Morgan hotels , as well as the Umami Burger , Cleo and Katsuya brands , while Hakkasan Group operates brands including Herringbone and Searsucker .