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.
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.
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(END) Dow Jones Newswires
April 28, 2017 06:26 ET (10:26 GMT)