A consortium led by private equity companies Hillhouse Capital Group and CDH Investments formulated a bid to buy the giant of Chinese shoes Belle International Holdings Ltd for a value of 6.25 billion euros. Together with the two companies, there are also members of Belle’s management. The price offered is 20% higher than the quotation at the time when Belle shares were suspended to allow the evolution of the trading transaction. Should the acquisition be finalised, CDH Investments, already a shareholder in Belle International, will own 56.81%. Hillhouse, which controls Bidu’s e-commerce portal, will reach 12.06% while the Belle group will be 31.13%. Bank of America funded the deal for 3.3 billion euros. For 13 consecutive quarters, Belle International recorded a downturn in sales with sales equal sales.
China: A shareholders’ consortium offers 6.5 billion euros for the acquisition of Belle International
