BELLE Is Privatized And The Founder Family Will Cash In HK $13 Billion 100 Million.

It is understood that the privatization of BELLE has been settled, and who has founded BELLE for 26 years will depend on who will continue to "change" and continue to "beautiful"?

"Every season, my goals are changing; every year, my dream is changing" -- this is the slogan of BELLE, the famous women's shoe brand.

Today, BELLE has indeed changed dramatically: in April 28th, BELLE international privatized at a cost of HK $53 billion 100 million.

Why did BELLE choose privatization? Did it land A shares after the Hong Kong stock market was delisted? After the privatization, where did the founder go?

For Deng Yao and Sheng Bai Jiao, April 28th is doomed to be an unforgettable day.

On this day, BELLE international, which was founded and served for more than 20 years, declared privatization. One of the offeror was BELLE international management team. The privatization of BELLE international will control 31.13% of BELLE international, while Deng and Sheng two did not participate.

"I am a BELLE, changing, so beautiful" - this slogan is fresh in memory. So, who has founded 26 years, who will continue to "change" and continue to "beautiful"?

BELLE will not land A shares for at least 3 years

The BELLE international takeover bid is led by high alpine capital, the founder of CDH investment and BELLE international management.

Once privatization is completed, BELLE international will withdraw from the HKEx to Private Companies. Among them, the proportion of high leverage capital to BELLE international will be 56.81%. CDH investment holds 12.06% of SCBL shares, and BELLE's international shareholders management will be 31.13% of the total.

The privatization price offered by the offeror is HK $6.03 per share, and BELLE international corresponds to a valuation of HK $53 billion 100 million, which sets the largest privatization record in Hong Kong stock history, but far from the valuation of HK $100 billion at the peak of BELLE international.

"If it is a listed company, it has to disclose the report to investors regularly, in order to repay the performance.

But the pressure on the company's future is very high, and the share price has dropped from high to low, and now it has to be pformed, which is not to be seen in the short term. "

People close to the consortium said.

In fact, BELLE is experiencing an unprecedented predicament. Its pcript is difficult to satisfy shareholders.

In the 2015 fiscal year and the 2016 fiscal year, BELLE's performance has declined for two consecutive years.

In recent years, BELLE has been repeatedly reported into "

"The outside world also has the view that BELLE is going to be privatized, and it will be bleak.

For BELLE, privatization is not necessarily a bad thing.

It breaks away from the obligation of disclosing performance to the public shareholders, and does not pursue short-term performance returns. It can significantly reduce business and invest more in sports apparel.

Tang Xiaotang, founder of fashion industry research and consulting investment organization No Agency, told reporters.

People close to the consortium told reporters that BELLE had received more than one privatization offer. "Many private companies have seen this company carefully, have had exchanges with the company, and have made corresponding adjustments, but in the end they did not know what to do because they could not agree."

The source said that BELLE had a large scale and strong ability to generate cash flow. Most of these funds focused on BELLE's cash. "The company feels that these funds can't solve the problem of pformation, and what companies need most now is pformation, so they do not talk about it at the end."

According to BELLE's privatization announcement, the offeror plans to

Invest in financial and operational resources, explore and try new retail modes with companies, and invest a lot of resources in technology, logistics and talent.

Those close to the consortium said that the consortium will start from the electricity supplier and big data, and help the front-end sales and the back-end supply side to help BELLE understand the market and consumer demand more quickly, so that the processing of orders, inventory and other issues will become more flexible.

A shoe listed company secretaries told reporters: "compared with A shares, the price earnings ratio of Hong Kong stocks is lower, which is a cost-effective paction for the acquirers. And BELLE's assets are very good, whether it is brand or online and offline resources, the foundation is very good, and the capital operation of investors will be very convenient."

Another question of curiosity is whether the consortium will push BELLE back into the capital market, such as A shares with higher price earnings ratio.

In response, those close to the consortium said BELLE did not have a listing plan in the short term.

"First, the mechanism is impossible. After the completion of the paction, the shareholder structure of BELLE has changed. The A share listing Ordinance stipulates that once the actual controller changes, the company will not be listed in A shares for at least 3 years, and will be able to apply for IPO in 3 years, and it will be 3 to 5 years later. Second, the consortium of high allocations capital has no intention of letting BELLE go public again.

Lining, once the first brand of Chinese sports, has also experienced the process of rebirth. The introduction of new investors, from the capital and strategic level, can help us recover deeply.

Excellent international brand Cci Capital Ltd CEO Yang Da Yun thinks so.

Deng Sheng family will cash up to HK $13 billion 100 million.

One of the offeree's wise entrepreneurs is made up of two executives from BELLE international, Yu Wu and management shareholders. He is currently the president of BELLE's new business department and Yu Wu is the president of BELLE sports department.

But it is worth noting that BELLE international founder Deng Yao and Sheng Bai pepper did not appear in the offeree, and the two year veteran voted in favour of privatization.

In 1981, Deng Yao set up a company called "Lihua" in Hongkong to engage in footwear trade. In 1991, "Lihua" set up Shenzhen BELLE and joined BELLE in the same year, and after more than twenty years of hard work, Deng and Sheng two created the myth of BELLE's international generation of shoe Kings.

At present, BELLE's own brands include Belle, Staccato and so on; agency brands include Hush Puppies, Merrell, etc. Besides, one of BELLE's important businesses is sportswear sales, and its agency's sports brands include NIKE, Adidas, Puma and so on.

These brands occupy more than half of the department stores.

"Even if the performance has declined over the past two years, BELLE has always been the leader of the industry, whether it is the channel presentation or the brand building, which is the object of learning by our peers."

Executives of listed footwear companies listed above told reporters.

Deng Yao, Sheng Bai pepper two people not only appeared in public, but also known as the "best partner".

But it is worth noting that Deng Yao, who has been in office for over eight years, no longer participates in the company's operation. BELLE International's steering helm is 66 years old, who has publicly stated that he will not use computers in the performance briefing, and the first performance decline in 2015. Sheng Bai Chai said, "I am 65 years old, and how long can I spend it?"

"- its nervousness is evident.

A Deng family statement learned by reporters showed that "Mr. Deng Yao's wishes for the development of the Evergreen Group hope that the privatization of the group will benefit from flexibility as a non-listed company and be more able to withstand the potential risks of business pformation.

Therefore, Mr. Deng Yao and chief executive Sheng Bai Jiao agreed to accept the offer to create conditions for the above changes.

The former close to the consortium told reporters, "Mr. Deng Yao is very old, and he no longer participated in BELLE's operation.

Deng Yao and Sheng Bai Jiao are very strong in expressing their support for privatization of the company.

At present, the Deng Yao family holds 20.76% stake in BELLE international through MCIL, and Sheng Bai Jiao has created 5.98% stake in BELLE international through Xing Bao global and fortune rich.

At the tender price of HK $6.03, the Deng Sheng family will cash in HK $13 billion 93 million.

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