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Belle shareholders approve privatisation

21/07/2017
Belle shareholders approve privatisation
Chinese women’s shoe group Belle International will withdraw from the Hong Kong Stock Exchange on July 27 after its shareholders almost unanimously approved an offer to privatise the company.

More than 98% of Belle’s shareholders gave the green light for a consortium led by Hillhouse Capital and CDH Investments to purchase the company for $6.8 billion. Two Belle executives, Yu Wu and Sheng Fang, are also involved in the deal.

The deal will see Hillhouse take a 56.8% stake in Belle, with CDH holding 12.1%. The remaining 31.1% will be taken by members of Belle’s management team.

Related stories:

Belle International to spin off sportswear business 03/07/2019
Belle shareholders to vote on buyout 03/07/2017
Top 10 footwear groups of 2016 revealed 21/06/2017
Sportswear takes over footwear for Chinese giant Belle 18/05/2017
Belle International joins up-for-sale footwear groups 02/05/2017

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