Semir Suspended Or Brewed Major Acquisitions Last Year To Acquire GXG Abortions
< p > < a href= "http://sjfzxm.com/news/index_cj.as" > analyst < /a > to NetEase finance, said that Semir's "currently investing in foreign investment matters" may involve mergers and acquisitions of garment enterprises. "Semir issued a news report last year that it will buy GXG, but in January this year, the takeover was unexpectedly terminated. The suspension may involve the acquisition of another garment company." < /p >
< p > it is reported that in June 19, 2013, Semir issued a notice that the board of directors adopted the motion on the framework agreement of the company to buy shares in Ningbo zhe Mu sang Holding Co., Ltd., and bought 71% of the shares in zhe Zai Shang management Yang Herong, Yu Yong, Zhu Zhaoguo, Tu Guangjun, Mao Chun Hua five, and the spanaction volume is expected to be between 1 billion 980 million yuan and 2 billion 260 million yuan. < /p >
< p > > this a href= "http://sjfzxm.com/news/index_cj.as" > handwriting < /a > is the largest spanaction to date in the acquisition of Chinese traditional clothing brands. According to Semir's disclosure, Semir will complete the layout of different consumer level markets by acquiring zhe Mu Shang, a local mid end fashion Brand Company. Some analysts have pointed out to NetEase finance that if GXG's three series of brands enter Semir dress system formally, Semir's middle end men's and children's wear product lines will be expanded in a large scale. Statistics show that the size of zhe Mu still grew from less than 3 million of its initial sales in 2007 to terminal sales of nearly three billion yuan in 2012. It owns the men's wear brand GXG, the urban youth brand gxg.jeans and the children's wear brand gxg.kids launched in August last year. By the end of 2012, the total number of GXG stores and gxg.jeans stores reached around 1200. < /p >
The P premium premium is also one of the reasons why the deal has attracted much attention from outside world. According to NetEase financial understanding, as of the end of 2012, zhe Mu Shang book net assets of 270 million yuan, so the acquisition premium of more than 10 times. For the acquisition of high premium and the placement of the founding team of the acquirer, Semir announced the corresponding plan. In the commitment, zhe Mu still has a net profit of not less than 265 million yuan in 2013, but net profit in 2014 and 2015 is not less than 20% over the previous year. If the performance is lower than the above commitments, the spanferor will make corresponding compensation for the company. < /p >
< p > some analysts have said to NetEase finance that behind the road of Semir's acquisition is Semir's pressure on product mix and performance. Some analysts pointed out that Semir is mainly located in the low-end market, and its price competitors are mainly Mester. But both Semir and Mester are highly commercial. They are able to rapidly expand the market by opening up stores and investing heavily in the market when the market is not mature enough. "In today's consumer spending becomes rational, Semir is obviously facing the challenge of product aging, and the single product is the biggest short board." Data show that Semir apparel revenue in 2012 reached 7 billion 63 million yuan, down 8.43% over the same period last year. < /p >
< p > however, in January of this year, a major change in the acquisition took place. Semir clothing announced that the agreement between Semir and the spanferor could not be signed on December 31, 2013 or before the agreement on the spanfer of shares was spanferred due to the failure of the company and the spanferor to reach agreement on the specific terms of the equity spanfer agreement. In accordance with the framework agreement, Semir's purchase of Ningbo zhe Mu sang Holdings Limited's equity framework agreement was lifted and terminated. < /p >
< p > for the failure of the acquisition, Semir did not make much explanation in the announcement, and there were different external speculations. However, some analysts pointed out to NetEase finance that Semir's own capital problem is the main reason why the spanaction can not be reached. (Chen Junhong) < /p >
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