PRESS RELEASES
C.banner Introduces CCC, CVC and Mousse as Strategic Investors
Development Strategy Gains Recognition from Investors
HONG KONG, June 18, 2012 /PRNewswire-Asia/ -- C.banner International Holdings Limited ("C.BANNER" or the "Company", together with its subsidiaries, the "Group", stock code: 1028), the second largest mid-to-premium women's formal and casual footwear company in China, held a press conference today, giving details of CCC, CVC, and Mousse's investment in the Group on 15 June 2012.
In relation to the issue of the Convertible Bonds in an aggregate principal amount of RMB189,024,450, each of CCC, CVC and Mousse severally agrees to subscribe for RMB18,902,445 (representing 9,687,600 Shares), RMB138,617,930 (representing 71,042,400 Shares) and RMB31,504,075 (representing 16,146,000 Shares), respectively, with a term of four years, at an initial Conversion Price of HK$2.40 per Share. The according proceeds are intended to be used by the Company to fund future strategic pursuits and working capital requirements of the Group.
Mr. Chen Yixi, Chairman of C.BANNER, said, "To have CCC, CVC and Mousse as our shareholders is a rare opportunity. The three investors are very experienced in consumer and retail sectors both in China and globally. The transaction shows not only the appreciation of renowned institutional investors for the Group, but also their recognition for and confidence in the Group's development strategy. Their extensive experience will offer more room for the Group's development and help us implement our strategy, explore growth potential, and introduce international quality brands. In addition, the investment of the three companies will facilitate the optimization of the Group's shareholding structure and financial position and enhance its corporate governance as well as operating transparency, allowing healthy and steady development."
Mr. Francis Leung, Managing Partner and Chairman, Greater China of CVC, and Mr. William Ho, Partner of CVC, jointly commented, "We are very excited about our partnership with C.banner and look forward to working with management and other shareholders to continue growing the business. We seek to add value to the company in areas of brand building, network expansion, financial management, operational efficiency and corporate governance. We will also leverage CVC's global network to help C.banner explore new business opportunities and expand its brand portfolio. We have identified a number of value creation initiatives to further improve the business and will work closely with management to jointly execute the business plan, bring the company to the next level and create sustainable value."
Commenting on the investment, Mr. Jack Wu, Managing Partner of CCC, said, "Our strategy is to invest in companies with promising prospect and sound management. We have become a strategic investor of C.BANNER because we hold a positive outlook for its business. With sound management as well as a proven track record, C.BANNER has a leading position in China's premium women's footwear market. We have great confidence in its visionary management, effective business model and growth strategy. We hope we can create strategic value for C.BANNER leveraging our experience as well as expertise."
CVC invested in C.BANNER through China Champion Holdings Limited, an investment vehicle wholly owned by funds advised by CVC Asia Pacific Limited. CVC Capital Partners is a leading international private equity firm. Founded in 1981, CVC Capital Partners today has a network of 20 offices and some 250 employees throughout Europe, Asia and the US. CVC Capital Partners manages funds on behalf of over 300 investors including pension funds, financial institutions, sovereign wealth funds and other investors. To date, CVC Capital Partners has raised over US$44 billion in funds and has completed over 290 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of US$167 billion. CVC Capital Partners Funds currently own over 60 companies worldwide, which generate over US$127 billion in revenues and employ around 400,000 people.
CCC is under the management of China Consumer Capital Partners Ltd. China Consumer Capital Partners Ltd. is a China-focused investment firm focusing on China consumer/retail industry investments. China Consumer Capital Partners Ltd. has extensive domestic and international industry resources and investment experience with strength in bringing strategic value to target companies.
Mousse is a private company managed by Mousse Partners, a New-York based private investment firm. In 2008, Mousse Partners established a Beijing office, and has been actively investing in Chinese consumer growth companies.
Mr. Chen concluded, "As a leading operator in China's mid-to-premium women's footwear market, C.BANNER has grown rapidly over the past few years and commands the second-highest market share. Looking ahead, the Group will have the support of CCC, CVC and Mousse in expanding its sales channels as well as brand portfolio, creating synergy, expanding its business through selective acquisitions and generating fruitful returns for shareholders. We look forward to cooperating with CCC, CVC and Mousse with their resources as well as network to expand our business in the China market and rise to the challenge for the next stage."
About C.banner International Holdings Limited
C.banner International Holdings Limited (formerly known as "Hongguo International Holdings Limited") is the second largest retailer of mid-to-premium women's formal and casual footwear in China, and is engaged in the manufacturing and sales of women's footwear with various designs. The Group manages five self-developed brands, namely "C.banner", "EBLAN", "Fabiola", "sundance" and "MIO", as well as licensed brand "naturalizer", through an extensive distribution and retail network in mainland China. C.banner's self-developed brands and licensed brands products are mainly distributed through department stores and independent retail stores in different cities, ranging from first-tier to third-tier cities in China. Furthermore, the Company also acts as an OEM or ODM manufacturer for international shoes companies dealing in export markets.
For further information, please contact:
Porda Havas International Finance Communications Group
Ms. Kelly Fung +852-3150-6763 kelly.fung@pordahavas.com
Ms. Natalie Yung +852-3150-6752 natalie.yung@pordahavas.com
Mr. Mike Ng +852-3150-6735 mike.ng@pordahavas.com
Ms. Kannie Lam +852-3150-6721 kannie.lam@pordahavas.com
SOURCE C.banner International Holdings Limited
DNA TV Show: Terror threat in Delhi after Rohini blast? Police tighten security ahead of Diwali
Taylor Swift suffers wardrobe malfunction on stage during her Miami concert, video goes viral
Ruturaj Gaikwad to lead India A squad for Australia tour; Ishan Kishan in, Shreyas Iyer misses out
THIS was going to be Aishwarya Rai's first film in Hindi but it didn't release because...
Meet woman, born in Pakistan, attempted suicide at 22, now leads Rs 1 lakh crore company, she is...
IPL 2025: This star overseas player likely to be KKR's top retention over captain Shreyas Iyer
Deepinder Goyal's Zomato clarifies on 'Continue', says 'Not venturing into...'
This company paid Rs 1328 crore tax to move its headquarters to India from US, it works in...
Meet man who works in Rs 1617003 crore company, now set to lead Walt Disney as...
Tata Group set to construct landmark building to honour Ratan Tata in...
Kagiso Rabada achieves massive feat, becomes first cricketer in the world to...
Elon Musk is offering over Rs 5000 per hour for THIS job, it requires you to be...
Steps To Select The Best Term Insurance With a Term Plan Calculator
IRIS Home Fragrances Introduces a Fresh New Range of Four Exquisite Diwali Gift Sets
Mukesh Ambani's next BIG step, set to challenge Elon Musk in…
Vasan Bala breaks his silence on Jigra's box office failure: 'Alia Bhatt could have...'
Meet man who began his career with Tata Motors, now runs Rs 2690 crore company, married to...
'Ye ek PR activity...': Flying Beast breaks silence on divorce rumours with wife Ritu Rathee
Mohammed Shami gives massive injury update ahead of Border-Gavaskar Trophy, says, ‘my fitness is…’
'Quit if you don't want to return...': Amazon AWS CEO Matt Garman warns staff
Indian Railways announces rescheduling, regulation, and restoration of trains due to...
How can Rohit Sharma-led India qualify for WTC final after losing against New Zealand in 1st Test?
Beyond Rumors: Adichunchanagiri Mutt's enduring contributions to Karnataka and beyond
Setback for Anil Ambani's company, NCLT dismisses plea to block use of...
India, China reach agreement on patrolling arrangements along LAC ahead of BRICS Summit
Will MS Dhoni play in IPL 2025? CSK CEO gives major update, says...
Zomato CEO Deepinder Goyal sets up new company with an eye to expand in...
'Want to put culprits on no-fly list': Aviation Minister on amending safety rules amid hoax calls
When is Ahoi Ashtami in 2024? Check date, subh muhurat, significance of this sacred fast
Bullet train update: India's fastest train to launch soon, top speed to be...
Good news for Anil Ambani as shareholders approve Rs 6000 crore fundraising plan for…
Uber cab driver in Mysuru harasses customer’s grandparents, demands extra fee, company responds
Noel Tata takes BIG decision after Ratan Tata's death, Tata Group board members will now...
BIG UPDATE on Ratan Tata's will: These people entrusted with managing Rs 7900 crore assets
AP Dhillion spotted bowling in IND vs NZ 1st Test, but there's the twist...
Punjab farmers urge government for permanent solution to stubble burning amid strict penalties
Pro-Khalistan group linked to Delhi CRPF school blast? Here's what we know so far
This company CEO denies 2-day marriage leave to an employee, says 'with our policy, don’t…'
Delhi-NCR air quality worsens to 'very poor', likely to rise more
Delhi Metro vs Meerut Metro: Which is more popular and better? Check speed, features and more
Mukesh Ambani's superhit new Jio plan with unlimited 5G data, 30-day validity at just Rs...
Afghanistan denies permission to Vistara's Frankfurt-bound plane to use airspace after bomb threat
Meet Indian genius, IIT graduate, new CTO of Rs 16734000 crore company, he is Sundar Pichai's...
Mukesh Ambani donated THIS amount following his spiritual visit to...
Not Shah Rukh Khan, but this Khan was first choice for Raees; he rejected it because…
SSC CGL Result 2024: SSC to announce Tier 1 results soon at ssc.gov.in, latest updates here
Meet woman, BTech graduate who was college topper, cracked UPSC CSE in 1st attempt with AIR...
Watch: Mohammed Shami bowls at full tilt in nets after India's 8-wicket defeat in Bengaluru Test
iPhone 15 effectively available for under Rs 50,000 during Flipkart Big Diwali Sale, here’s how…
'I can’t believe': Video of snake swallowing large egg in one go leaves internet stunned, watch
Watch: AbRam wins internet with cutesy reaction to paps’ ‘Shah Rukh Khan sir ko salaam bolna’
J-K terror: Doctor, 5 labourers killed as terrorists open fire at construction site in Ganderbal
Bigg Boss 18: Viral Bhabhi Hema Sharma becomes first evicted contestant of Salman Khan-hosted show