Huang Guangyu sale of 20% stake in the international syndicated or indeed win
If
Huang Guangyu
Remains as
States United States
Largest shareholder, China resume trading after the United States, if there is any news Huang Guangyu, the National US-stock transaction will result. According to the present situation, the negative transaction is very high. From this perspective, the sale of shares Huang Guangyu of GOME for restoration of stability in the post is a good thing.
Recently,
GOME Electrical Appliances
(00493, HK) (hereinafter referred to as GOME) internal to the "Daily Economic News" confirmed that the printing of rumors that the country wishes to sell 20% stake in US-true, but 20% of the shares sold came from current largest shareholder Huang Guangyu.
It is reported that the U.S. stake in the bid Running out of the country, most likely a combined KKR and Bain Capital consortium of other funds. Such as the sale successful, Huang Guangyu of beauty in the country will fall to 15% of the shares, the largest shareholder status, or will not be secure.
Then to call the country the US's spokesman Ho Ching Yang and Huang Guangyu of GOME, executive vice president and spokesperson Wang Junzhou, two are unaware of the ground, not a positive response to this problem.
International syndicate could win
Beginning of this year regarding the sale of shares transfer abroad the U.S. has been involved in one of many investors. However, as Huang Guangyu case undetermined reasons, the current bid for state shares in the United States the most promising institutions leaving only three: the international capital giants KKR and the other giants Bain Capital consortium, Fosun Guo Guangchang, and Li Ka-shing.
According to the State within the United States disclosed that the country now sell the shares of the United States the idea is: not to sell shares to the same industry, competitors or potential competitors.
According to informed sources, Fosun Guo Guangchang always wanted to set foot in
Home Appliances
Retail. "If the successful acquisition of Gome shares is likely to become the largest shareholder, will also intervene in management, this is not the current management of the country would like to see the United States." Securities analysts believe. The Li Ka-shing is the acquisition of the main unit of Fortress, in Hong Kong in white goods and 3C
Digital
Products business, which is obviously thinking of GOME stake sold does not match.
Of which is most likely to win KKR and Bain Capital consortium consisting of investment. Reporter's question on the matter related to head KKR and Bain, they have refused to respond.
According to report, KKR is the world's largest private capital. In 2007, KKR assets under management totaled 53.4 billion U.S. dollars, which acquired the assets of the fund management worth about 44.1 billion U.S. dollars. In recent years, their entry into China, many enterprises have on the investment, including the use of 115 million U.S. dollars to buy the Tin Shui Cement 43.2% shares; in Sanlu, "melamine" crisis, has invested 300 million U.S. dollars at Chinese dairy fields. And Bain Capital assets of about 250 billion dollars, has raised more than 1 billion US dollars of capital to invest in one after another.
Impact of removal of Huang Guangyu
According to the U.S. in 2008 filing shows the country, as of the end of 2008, the notes payable and bank borrowings reached 8.657 billion yuan, while accounts payable and notes payable is as high as 12.9 billion yuan. At the same time, the company held cash and cash equivalents of about 3.051 billion yuan, 6.27 billion yuan compared to the end of 2007 dropped 5 percent.
Citigroup analysis that large-scale capital investment shop, buy Dazhong Beijing and Shandong triple, share repurchase and other factors, lead to a cash outflow of the United States increased.
Country disclosure of U.S. earnings in 2008, last year, the National United States the cost of more than 2.2 billion yuan Zeng Yi repurchase shares. The States United States issued in 2006, 4.6 billion of convertible bonds, to May 2010 due to the country the United States to see the current financial situation, are unable to pay 4.6 billion convertible bond. The sale of shares is the best choice.
I am an expert from China Quality Dress, usually analyzes all kind of industries situation, such as thermally conductive adhesives , hot melt hose.
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