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Buyout of China’s biggest lady's footwear retailer to be put to vote
2017/6/28 16:29:37 Source: Author: 点击率:

Shareholders will this month decide the fate of Belle International, China’s biggest women’s footwear retailer, which is the subject of a $6.8bn privatisation offer. Hillhouse Capital, CDH Investments and two of Belle’s executive directors in April offered HK$6.30 ($0.81) cash per Belle share in what would likely be a record buyout for a consumer company listed in Hong Kong.

A vote on the scheme of arrangement has been set for July 17, the company said in a filing to the Hong Kong Stock Exchange after market close on Friday. The offer represents a 19.5 per cent premium to the company’s last traded price of HK$5.27 on April 13, when it was halted pending an announcement related to the territory’s takeover and mergers code. Shares fell 0.3 per cent to HK$6.09 on Friday.

Belle, whose revenues are split between sales of footwear and sports apparel, operates more than 20,000 stores, mostly on the mainland. As the biggest women’s footwear retailer in China, it sells under brands such as Mirabell, Teenmix and Staccato and the Fato brand for men.

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