Suning sized acquisition is expected to wrap up in October 3.0 billion purchase
Largest
Home Appliances
Chain
States United States
Electrical
After the acquisition of Shanghai Yongle, the second-largest home appliance chain Suning Appliance is also about the first merger, acquisition target is Beijing's largest home appliance chain giant, is working with the Wing-lok, a "termination case," the medium and large appliances.
Reporters yesterday (April 8) was informed that the acquisition of large and medium Suning ongoing negotiations, the deal likely to be completed in October. Dazhong and Yongle but not to rescind, Suning, Dazhong is not currently signed up, mergers and acquisitions still variable. Paradise founder, is the U.S. president Chen Xiao said China is concerned about this, but he believes the current acquisition of large and medium Suning is impossible.
On sale of medium and large enterprises with more than
Country since last July after the U.S. announced the acquisition of Yongle, Dazhong Electric Appliance in October it unilaterally announced the lifting of the Yongle treaty signed before the merger, since the fate of large and medium has been the industry's attention, not to cover up to the sale of medium and large Italy, the ED also Gome, Suning, Best Buy, etc. thrown out of domestic chain, "Hydrangea."
Latest news shows, Su Ning seems to be the last
Buyer
. According to reports, medium and large appliances in Shanxi, Nanning, Chongqing and other places of stores has reached an agreement with Suning, taken over by advance. The reason that Dazhong and Suning substantial carry-limited in Shanxi, Chongqing, Nanning, it is by Dazhong and Yongle termination events. As Shanxi, Chongqing, Nanning and other stores not in the last year, medium and large field, Yongle's
Cooperation
Agreement, it now can.
Dazhong Electronics, told reporters yesterday, general manager of Hong Song, Suning acquisition of large and medium is not accurate information. Transfer of foreign stores because of large and medium sized business currently contracted. The acquisition, medium and large in the talks not only with Suning, Best Buy, Gome is the object of the negotiations so far, there is no contract with any one. Suning CEO Sun Weimin told reporters yesterday, and now far from large and medium sized acquisitions.
Dazhong Paradise termination lawsuit trip legs
But large and medium business should be contracted to be sold to a signal, but now large and medium and Wing-lok's "termination lawsuit" outstanding.
Industry analysis, not as large and medium lift contract with the Wing-lok, so now can not sign any new purchase agreement. However, from its stores and Suning cooperation in the field of view, the negotiations should have entered a substantive stage. Some media said that Suning has sent a third-party financial companies and large and medium contact, Suning will be the price of 3.0 billion acquisition of large and medium. However, according to report, if the acquisition of large and medium Su Ning, the latest deal in the next 10 months ago, "ending", but in the end of the financial audit is not completed, the purchase price be determined.
Advertisement Promotion Department director
sized electrical connection, said Luo, medium and large will be open to the media today indicate this fact. SONG, said Su Ning, mainly for clarification regarding the acquisition of large and medium. Industry analysts, medium and large arms of the biggest obstacles to investment Suning, Yongle before it signed with the acquisition of contract had not been lifted. This makes the acquisition of large and medium Suning variables exist. Dazhong Electronics on April 19 last year, has announced a strategic collaboration with Wing-lok, home appliances, the two sides agreed to complete the merger within a year, one year after the purchase price by the large and medium profitability and asset position to determine. But in July and the National US-declared Paradise merged with Wing-lok, medium and large unilateral declaration of termination, therefore, and the two sides "termination lawsuit" by the China International Trade Promotion Committee for arbitration.
CHEN said that Paradise is still willing to buy large and medium, the results do not come out in the arbitration, before all the results is not easy to say. However, according to the strategic development of medium and large electrical applications consultancy floor light revealed on April 20 will have an arbitration outcome.
Home appliance chain will be "North Zhang Nan Huang"
Acquisition of large and medium who has become a home appliance chain of lakes in the interests of debate.
GOME-related sources, medium and large addition to Beijing, all of its field operations at a loss, therefore, Suning, if only to acquire its field operations on its own is no good, medium and large value of the largest of its profitable business in Beijing.
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