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Bosideng Denounced 892 Million 500 Thousand Yuan Acquisition Of Women'S Clothing Company

2011/11/1 10:17:00 29

Bosideng Acquisition

Bosideng (03998) announced the acquisition of 70% rights and interests of Dehui and Langhui global (Target Corp), the cost of which is 892 million 500 thousand yuan (which can be adjusted, the final cost is not more than 945 million yuan), of which the price of 595 million yuan will be issued at 235 million HK dollars per share of HK $3.1.


The cost share accounted for 2.93% of the expanded share price, and the issue price was 49.76% higher than the closing market price on Friday.

The price is set to be closed until 2014.


Target Corp has many women's clothing brands such as "JESSIE" and "LeMauve". It also provides women's clothing design, brand marketing and planning services. It sells "JESSIE" brand women's clothing in the mainland in its own way and franchises. As of the end of September this year, there are 81 self owned stores and 172 franchised stores.


Bosideng pointed out that the acquisition will enhance the company's position in women's clothing business and enhance its product mix.

Due to the profit guarantee provided by the Target Corp agreement, the company believes that the acquisition can provide substantial profit contribution and improve the current revenue structure.


 
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