For recently has reported said "global maximum luxury group Tag Heuer Xuan (LVMH) intends to acquisition is reform in the of Shanghai home of (600,315, unit 's) (600,315)" of message, Shanghai home of Chairman Ge Wenyao yesterday said, Shanghai home of and Tag Heuer Xuan Zhijian absolute does not exists was acquisition of problem, but records in development fashion industry of Shanghai home of future certainly also will continues to and Tag Heuer Xuan keep cooperation, and currently is on cooperation project for contact.
Ge Wenyao is in Shanghai at the Shanghai men's cosmetics brand owned by House of Gough when new products release, made the above remarks.
Shanghai jahwa matters released on December 7, 2010 since the announcement and suspension, has burst out of the media including "ping an of China (601,318) intended to be the master of", "China investment limited liability company coming out bid", more than one version of the conjecture. The latest "sex scandal" the protagonist is Tag Heuer. Tag Heuer group is the parent company LV brand. Professional financial and media reports said, for the acquisition of Asian fashion brand, Tag Heuer established a US $ 640 million in private equity funds on the scale of L-Capital Asi-a.
Tag Heuer team in charge of investment had recently visited Shanghai jahwa visit Ge Wenyao's tour in person. To this, Ge Wenyao yesterday to respond to that, he said "will not be foreign takeovers of" in the "foreign" mainly refers to the industry of foreign-funded enterprises. As far as Tag Heuer, Shanghai jahwa and cannot be its acquisition, but is not exclusive to cooperate.
According to reports, the trading price will be determined before 20th of this month, valued at more than $ 5 billion. home from local disk access in fact, cooperation of Shanghai jahwa and Tag Heuer for a long time.
As early as 2005, Tag Heuer its shop Sephora cosmetics at a time when China, Sephora's shareholders for the Chinese side Shanghai jahwa.
Ge Wenyao revealed yesterday, today he welcomes the forthcoming retirement of Sephora global President, after the retirement of the latter will act as Tag Heuer group private equity fund l Capital consultants. "In fact, we are interested is with Tag Heuer. "Ge Wenyao said, with the growing national brand consciousness of the Chinese people, for Tag Heuer,, if you want to buy a good brand in the country is not an easy thing, and plans to March on to the fashion industry of Shanghai jahwa, and in terms of branding, shop management has extensive experience of Tag Heuer cooperation, is undoubtedly a good thing.
It is reported that Shanghai jahwa Chinese owned SPA is currently looking for opportunities to shop overseas.
Ge Wenyao said Shanghai jahwa does and Tag Heuer project cooperation in contact, but we have not yet reached any agreement, there is no actual content to disclosure.
Mutual cooperation in the future, said Ge Wenyao, except there is no possibility of holding by Tag Heuer, "there are a variety of possible", which includes shares. Ge Wenyao introduced, disk access 29.18% Shanghai jahwa stake in the future, will certainly be local companies, in order to prevent the Shanghai of the hands of foreign-funded enterprises national brand ended up in the same industry, foreign funds will also be excluded from the list of buyers.
Can be sure of is that of LVMH will not holding home, as he repeated public expressions, home must come from local disk access. established listed price before 20th of this month after nearly half a year's time, seller of obstacles in the system reform of Shanghai jahwa currently have all been swept, asset audit report to be published before June 20.
According to reports, the valuation price will exceed $ 5 billion, considerably more than the previously expected $ 4 billion. Audit report known to the public after 10 days, then you can be listed on the property right Exchange. In accordance with the requirements listed for a period of 20 working days. "If the relatively smooth, probably listed at the end of June and early July, after listing, investors can come in and do some due diligence, if there is no problem, it was delisted, then in August can be completed.
"Ge Wenyao said. "Instant only just decided to reform, has not done anything. "Ge Wenyao said yesterday, when the suspension is because provisions of listed companies, to avoid price fluctuations, specific reform until after the work is commenced. Including Shanghai jahwa (600,315) free transfer of shares cast and Shanghai jiushi of Shanghai City, escalation, approved of the overall reform programme, State-owned asset audit assessments, but also over more than 2000 employees in State-owned enterprise identity of conversion and other matters. "To date, from the seller perspective, concerning the transfer of obstacles have been cleared.
"It was revealed that official pricing approval report made before 20th of this month, after a series of legal procedures after, can be listed under this month month. After the transferred 9.8% shares, groups holding stakes in listed companies of scale is 29.15%, evaded the Securities Act provides general offer to all shareholders of acquisition of critical points of 30%. It is estimated that the stake, together with other assets within the group, concerning the basic price is over $ 5 billion. "For the buyer, the price is relatively high, investors NET survey needs to be done, the whole restructuring expected to be completed in August. "For the success of reform, as example in the reform of State assets Shanghai, Ge Wenyao looked confident. Transferred 9.8% shares valued at about $ 1.6 billion, plus $ 5 billion more than the listed price, home valuations of $ 6.6 billion. And according to the provisions of the State-owned enterprises turn in profits 10%, 2010 group handed the profit of nearly $ 15 million, "of $ 6.6 billion, equal to turned over a profit of more than 400 years. "Not only that, from the" not for all "perspective, paid nearly $ 500 million of revenue last year, Ge Wenyao is expected, after 5 years of taxes of up to $ 1 billion," this is in the interest of the Government. ”
