Chinese private equity firm CDH Investments has embarked on the tough task of transforming one of the country’s biggest retailer networks with the help of e-commerce, after agreeing to support the management buyout of Belle International for HK$53.1 billion $6.8 billion.
In what could be the biggest management buyout of a Hong Kong-listed company, CDH said on Friday after the close that it is teaming up with Hillhouse Capital to acquire all of the outstanding shares in China’s largest shoe retailer. Together with Belle's executive directors Yu Wu and Sheng Fang, who own a combined 2.66% stake in the company, it offered to pay HK$6.3 per...
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