BELLE 1 Billion 670 Million
According to Hongkong Ming Pao newspaper, BELLE, the largest female footwear retailer in the mainland, announced that it had made a comprehensive acquisition to the local shoe maker, Mei Bao, at a price of six yuan per share, a premium of 15.16% compared to the 5.21 yuan before the closure of the company, and the capital involved was about 1 billion 670 million yuan, which will be paid in cash by using internal resources.
After the completion of the paction, it will become a wholly owned Affiliated Companies of BELLE, and the listing status of the former will be applied for cancellation.
BELLE's announcement explains that the combination of the two companies can produce integrated benefits, which not only enhance BELLE's overseas business operations, but also improve BELLE's mainland business through BELLE's retail network in the mainland.
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