Sports Shoes Brand Puma Reclaims 49% Stake In Swire Joint Venture
November 2nd, German sporting goods manufacturer sponsoring Italy to win the world cup in 2006 Puma A few days ago, it said it would buy the remaining 49% of the joint venture company LibertyChinaHoldingLtd in China. After the completion of the acquisition, Puma will take over its business in mainland China and Hongkong, and develop solo.
It is reported that the takeover will take effect next month.
However, Puma did not disclose the price of the paction.
Archean
The spokesman also did not comment on the paction price when he received an interview with foreign media.
At present, Puma and Tai Koo's Swire resources hold 51% and 49% of LibertyChina shares respectively.
LibertyChina is mainly engaged in distributing Puma products in Hongkong and China.
According to the press survey, Swire resources business includes agency, wholesale and retail sports and leisure brand clothing and shoes.
Its three largest retail chains, including marathon, GigaSports and Catalog, operate more than two hundred stores in Hongkong, Macao and the mainland of China.
Despite its withdrawal from Puma, Swire resources still holds many famous sports shoes, casual shoes and leisure wear such as Aerosoles, Arena, Champion, Columbia, Rockport, Surf-Siders and Teva.
brand
Distribution rights.
As at December 31, 2009, the net profit of Tai Koo resources was HK $10 million, with a turnover of HK $1 billion 835 million.
Puma will be wholly owned by LibertyChina from January 1, 2011, and will open a new store in the future.
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