Investor Consortium Makes HK$45 Billion Buyout Offer for Belle International

By Joanne Chiu Features Dow Jones Newswires

Belle International Holdings Ltd. (1880.HK) said a consortium comprising company management and a private-equity investor group has offered to take the shoe maker private in a HK$45.3 billion ($5.82 billion) deal.

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Muse Holdings-B Inc., which includes private-equity investor CDH Group and Belle's management, plans to pay other shareholders HK$6.30 a share in cash, Belle said after markets closed Friday. The deal values Belle at HK$53 billion.

Muse Holdings will finance the buyout through a HK$28 billion debt facility provided by Bank of America N.A. and a cash investment of HK$17.31 billion by the investor group, it said.

The offer price represents a 19.5% premium to the stock's last trading price before it was halted on April 18. Belle will resume trading of its shares Tuesday after Hong Kong's Labor holiday break.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

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April 28, 2017 06:26 ET (10:26 GMT)