Xinyu Hengdeli Holdings to acquire 80% stake in Taiwan Jing Guang Timepiece

Xinyu Hengdeli Holdings Limited, a retailer and wholesaler of watches, through its wholly-owned subsidiary Taiwan Hengdeli Limited, has entered into a purchase agreement to acquire 80% of the equity interest in Taiwan Jing Guang Timepiece Holdings Limited, a watch importer and retailer, from Lee's Family for HKD48 million ($6.19 million).

Following the acquisition, Lee's Family will hold a 20% stake in Taiwan Jing Guang Timepiece. All the companies involved in the transaction are based in China.

Porda International (Finance) PR Co., Ltd. is acting as public relations advisor to Xinyu Hengdeli Holdings.

Deal Value (US$ Million) 6.19
Deal Type                Acquisition
Sub-Category             Majority Acquisition
Deal Status              Announced: 2009-10-13

Deal Participants

Target (Company)   Taiwan Jing Guang Timepiece Holdings Limited
Acquirer (Company) Xinyu Hengdeli Holdings Limited
Vendor (Company)   Lee's Family

Deal Rationale

The acquisition will strengthen Xinyu Hengdeli Holding's retail platform in China.

% Acquisition 80%

Related terms: acquisition, advisor, china, family, finance, public relations, retail, taiwan