On October 22nd, CVC Asset Partner (hereinafter referred to as CVC), the second largest private equity fund in Europe, headquartered in London, announced that the company has obtained the approval of the Chinese Ministry of Commerce and successfully acquired China's largest plastic bottle manufacturer Zhuhai Zhongfu Industry Co., Ltd. The company (Shenzhen Stock Exchange code: 000659, hereinafter referred to as Zhuhai Zhongfu) has a 29% stake.
This transaction with a cost of RMB 1.65 billion made CVC the largest shareholder of Zhuhai Zhongfu. Zhuhai Zhongfu is the largest supplier of PET bottles and PVC labels for South Korea's "Two Music" (Coca Cola and Pepsi Cola). Its PET beverage bottles have a market share of 60% in the domestic market, and the industry has obvious advantages. Since the beginning of this year, Zhuhai Zhongfu's stock price has risen by 285%.
CVC stated that China is the second largest beverage market in the world and this investment is focusing on the huge demand for beverage bottles in the Chinese market. According to its estimation, this demand will maintain an average annual growth rate of 11.6% over the next four years.
The share purchase was the second time that CVC has publicly declared its investment in China following the acquisition in October 2006 of an 85% stake in Jixiang Wood, which mainly produces fiberboard and wood flooring.
After the acquisition of Jixiang Wood, CVC did not intervene in the company's daily operations. This time is different, CVC announced on the 22nd that it will send three executives to participate in Zhuhai Zhongfu's business operations.
The share acquired by CVC was acquired from Zhuhai Zhongfu Industrial Group Co., Ltd. (hereinafter referred to as Zhongfu Group), Zhuhai Zhongfuyuan’s largest shareholder. The latter still holds 5% equity of Zhuhai Zhongfu after selling the shares, becoming the second largest shareholder. shareholder.
Zhuhai Zhongfu confirmed to the reporter that the company had received the Ministry of Commerce's approval document on September 27, agreeing that Zhongfu Group's total price of 1.65 billion yuan would be paid to CVC's Asia Bottles (HK) Company. Limited) transferred 29% equity of Zhuhai Zhongfu, and the transfer price per share was 8.27 yuan, a premium of 190% over the company's net assets per share.
On October 18th, Zhongfu Group Company and the Asian Bottle Company completed the share transfer formalities. The two parties agreed that the shares cannot be transferred within three years after the completion of the agreement transfer.
Asian Bottle (Hong Kong) Limited is a project company registered in Hong Kong specifically for this acquisition. Its ultimate shareholder is CVC's Asia Pacific II fund and Asia Pacific II Parallel Fund (collectively known as CVC Asia Pacific Fund II). Both funds are limited partnership funds incorporated in the British Cayman Islands in November 2004.
With more than $1.9 billion in funds managed and deployed, CVC Asia Pacific Fund II is one of the top private equity funds in the Asia-Pacific region.
This transaction with a cost of RMB 1.65 billion made CVC the largest shareholder of Zhuhai Zhongfu. Zhuhai Zhongfu is the largest supplier of PET bottles and PVC labels for South Korea's "Two Music" (Coca Cola and Pepsi Cola). Its PET beverage bottles have a market share of 60% in the domestic market, and the industry has obvious advantages. Since the beginning of this year, Zhuhai Zhongfu's stock price has risen by 285%.
CVC stated that China is the second largest beverage market in the world and this investment is focusing on the huge demand for beverage bottles in the Chinese market. According to its estimation, this demand will maintain an average annual growth rate of 11.6% over the next four years.
The share purchase was the second time that CVC has publicly declared its investment in China following the acquisition in October 2006 of an 85% stake in Jixiang Wood, which mainly produces fiberboard and wood flooring.
After the acquisition of Jixiang Wood, CVC did not intervene in the company's daily operations. This time is different, CVC announced on the 22nd that it will send three executives to participate in Zhuhai Zhongfu's business operations.
The share acquired by CVC was acquired from Zhuhai Zhongfu Industrial Group Co., Ltd. (hereinafter referred to as Zhongfu Group), Zhuhai Zhongfuyuan’s largest shareholder. The latter still holds 5% equity of Zhuhai Zhongfu after selling the shares, becoming the second largest shareholder. shareholder.
Zhuhai Zhongfu confirmed to the reporter that the company had received the Ministry of Commerce's approval document on September 27, agreeing that Zhongfu Group's total price of 1.65 billion yuan would be paid to CVC's Asia Bottles (HK) Company. Limited) transferred 29% equity of Zhuhai Zhongfu, and the transfer price per share was 8.27 yuan, a premium of 190% over the company's net assets per share.
On October 18th, Zhongfu Group Company and the Asian Bottle Company completed the share transfer formalities. The two parties agreed that the shares cannot be transferred within three years after the completion of the agreement transfer.
Asian Bottle (Hong Kong) Limited is a project company registered in Hong Kong specifically for this acquisition. Its ultimate shareholder is CVC's Asia Pacific II fund and Asia Pacific II Parallel Fund (collectively known as CVC Asia Pacific Fund II). Both funds are limited partnership funds incorporated in the British Cayman Islands in November 2004.
With more than $1.9 billion in funds managed and deployed, CVC Asia Pacific Fund II is one of the top private equity funds in the Asia-Pacific region.
4 burners gas grill, Home Gas Grill, Propane Outdoor Grills, Barbeque Outdoor Grill, Barbecue Grill
JIANGMEN XINXIN METAL PRODUCTS CO., LTD. , https://www.bbqoutdoorgrill.com