Chinese private equity firm CDH Investments Fund Management Co. is working with the management of Hong Kong-listed Belle International Holdings Ltd. on a potential buyout of the struggling footwear and sports clothing retailer, according to media reports citing insiders.
Shares of Belle International were halted today pending an announcement related to Hong Kong’s takeovers and mergers code, the Shenzhen-based company said in an exchange filing. Belle International currently has a market capitalization of HK$44.45 billion (US$5.72 billion). No financial details of the potential deal are available at this stage.
Founded in 1991, Belle International is China's biggest women's footwear retailer, selling shoes under brands including Millie's and Teenmix in over 20,000 stores across the country. It is also the major agent for Nike, Adidas, Con...
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