One of the shares that has continued to be increased, one confirmed to be acquired. Supor, Pentium Electric, a small local home appliance brand that has been active for many years, is losing its local flavor.
On July 11, Philips Electronics confirmed that the acquisition of Pentium Electronics (Shanghai) Co., Ltd. is expected to be completed in the fourth quarter of this year.
Three days before the news was formally announced, SEB controlling shareholder SEB (France Electric) announced that it had received approval from the Chinese Ministry of Commerce and agreed in principle that Supor Group and its founder, Su Zengfu, will transfer approximately 20% of the shares to him.
Followed by the pace of mergers and acquisitions of Philips, there are domestic enterprises ASD. On July 12, ASD issued an announcement that it agreed to acquire wholly-owned assets related to the small household appliance business of Dongguan BBK Home Appliance Co., Ltd. at a price of 22.88 million yuan from its wholly-owned subsidiary, Zhejiang Aishida Life Appliance Co., Ltd., and seeks to cross the border from the cooker to the small household appliance industry. expansion. Previously, SEB had wanted to acquire a controlling stake in ASD and not to switch to the acquisition of Supor.
Behind the "marriage"
Philips has been rumored to buy Pentium electric rumors for a long time. The two sides began contact at the beginning of the year. In May of this year, a senior manager of Pentium Electric revealed that Philips financial auditors had already entered the Pentium. Chairman of the Pentium Group Liu Jianguo also disclosed information at an internal conference.
The details of the acquisition have not been disclosed. The information obtained by the "First Financial Daily" before was that the transaction involved Pentium electrical team, sales channels and brands, but it did not include land and factory buildings. Philips will pay about 2 billion to 2.5 billion yuan for this purpose. Philips is currently conducting a due diligence review. Upon completion of the transaction, Pentium will be incorporated into the Philips Home Care business.
The information on SEB's holding of Supor is clear. After the completion of the transaction, SEB International will hold 71.31% of the shares, and the Supor Group's shares will fall to 11.76%. Founder Su Zengfu will no longer directly hold company shares. This means that the Su family is stepping out of the company he founded. According to a rough calculation, 51.2% of the shares of Supor were acquired by SEB before about 5 billion yuan. If the transaction is based on the current secondary market share price, it will again raise about RMB 1.7 billion.
For Pentium founder Liu Jianguo, the deal seems worthwhile. Liu made the first home appliance channel 23 years ago, and later involved in parts and machine OEM. In 2003, he officially established the Pentium brand and gradually became the main market for local small household appliances. Liu Buchen, a research expert in the home appliance industry, said that the initial transaction volume he heard was 1 billion yuan. If it reaches 2 billion yuan, it would be a good deal.
Su Zengfu and his family naturally made a lot of money. Initially, the documents approved by the Ministry of Commerce in 2007 showed that Supor Group, Su Zengfu and Su Xianze respectively transferred 9.71%, 4.24%, and 0.43% shares to SEB at a price of RMB 18 per share. Su Zengfu and Su Xianze directly cashed in 150 million yuan. The transfer price of 30 yuan per share, the Su family's reduction of cash up to 3.4 billion. Even if the transaction is completed, the Supor Group still holds about 11% of the shares of Supor.
Behind the founders' big gains is that their minds are no longer focused on small appliances: the Su family is making great strides in real estate, and Liu Jianguo loves the business of the golf industry. As a result, the small home appliance market that is regarded as "the last profit-making cheese in China's home appliance industry" will be transferred to two major European brands.
Ministry of Commerce to be approved
A few days ago, Kong Xianghui, chairman and executive vice president of Philips Greater China, said that the global headquarters of the company's home care business has been relocated to Shanghai and the acquisition of Pentium will help expand the product line and accelerate the deployment of the Chinese kitchen appliance market.
Hong Shibin, deputy director of the China Home Appliances Commercial Association Marketing Committee, said that the acquisition is expected to make up for the shortcomings of Philips in the 3rd and 4th markets, and directly increase revenue and market share. According to data from Yikang, the Pentium revenue in 2007 was over 1 billion yuan. From January to April 2011, the market share of Pentium rice cookers was 7.5%, ranking third in China; Induction cookers and electric pressure cookers ranked fourth.
The SEB holdings of Supor is even more revealing ambitions. According to public statistics, Supor's revenue in 2010 was 5.622 billion yuan, and its net profit realized was 405 million yuan. The year-on-year growth in revenue and net profit in the first quarter of this year exceeded 30%.
The reputation of SEB in China was initially unfavorable because it had operated a joint venture with a two-out model, causing the latter to lose money and earn short-term profits. Today, the growth of the small household appliance market in China has allowed it to begin to have a long-term layout. In the early days it tried to acquire ASD without fruit. Right now, it not only increases Supor shares, but also lays out a huge production base in Wuhan.
President Su Huai-zung of Supor told the newspaper that Wuhan Base has introduced SEB's production line and manufacturing process. Competition in the small household appliance industry in the future is largely a large-scale competition.
This arrangement may make Gree, Joyoung, and Gree, which is strengthening the small appliance business, feel guilty. In the past few years, the United States has led the Chinese small household appliances market, the stock price hit another record high, once attracted the United States Goldman Sachs of all ages. The latter had planned to inject capital in 2008 but ultimately failed to pass the approval of the Ministry of Commerce.
Luo Qingqi, a research expert in the home appliance industry, said that the Ministry of Commerce is in the process of formulating rules for the review of foreign mergers and acquisitions and intensifying the review of foreign mergers and acquisitions. He believes that the small household appliance industry should be a competitive part of the Chinese home appliance industry, and foreign mergers and acquisitions should be treated with caution.
At the beginning, SEB's acquisition of Supor had caused great concern in the industry. During this period, even incidents of accelerating corrupt officials through the review of the Ministry of Commerce had occurred.
On July 11, Philips Electronics confirmed that the acquisition of Pentium Electronics (Shanghai) Co., Ltd. is expected to be completed in the fourth quarter of this year.
Three days before the news was formally announced, SEB controlling shareholder SEB (France Electric) announced that it had received approval from the Chinese Ministry of Commerce and agreed in principle that Supor Group and its founder, Su Zengfu, will transfer approximately 20% of the shares to him.
Followed by the pace of mergers and acquisitions of Philips, there are domestic enterprises ASD. On July 12, ASD issued an announcement that it agreed to acquire wholly-owned assets related to the small household appliance business of Dongguan BBK Home Appliance Co., Ltd. at a price of 22.88 million yuan from its wholly-owned subsidiary, Zhejiang Aishida Life Appliance Co., Ltd., and seeks to cross the border from the cooker to the small household appliance industry. expansion. Previously, SEB had wanted to acquire a controlling stake in ASD and not to switch to the acquisition of Supor.
Behind the "marriage"
Philips has been rumored to buy Pentium electric rumors for a long time. The two sides began contact at the beginning of the year. In May of this year, a senior manager of Pentium Electric revealed that Philips financial auditors had already entered the Pentium. Chairman of the Pentium Group Liu Jianguo also disclosed information at an internal conference.
The details of the acquisition have not been disclosed. The information obtained by the "First Financial Daily" before was that the transaction involved Pentium electrical team, sales channels and brands, but it did not include land and factory buildings. Philips will pay about 2 billion to 2.5 billion yuan for this purpose. Philips is currently conducting a due diligence review. Upon completion of the transaction, Pentium will be incorporated into the Philips Home Care business.
The information on SEB's holding of Supor is clear. After the completion of the transaction, SEB International will hold 71.31% of the shares, and the Supor Group's shares will fall to 11.76%. Founder Su Zengfu will no longer directly hold company shares. This means that the Su family is stepping out of the company he founded. According to a rough calculation, 51.2% of the shares of Supor were acquired by SEB before about 5 billion yuan. If the transaction is based on the current secondary market share price, it will again raise about RMB 1.7 billion.
For Pentium founder Liu Jianguo, the deal seems worthwhile. Liu made the first home appliance channel 23 years ago, and later involved in parts and machine OEM. In 2003, he officially established the Pentium brand and gradually became the main market for local small household appliances. Liu Buchen, a research expert in the home appliance industry, said that the initial transaction volume he heard was 1 billion yuan. If it reaches 2 billion yuan, it would be a good deal.
Su Zengfu and his family naturally made a lot of money. Initially, the documents approved by the Ministry of Commerce in 2007 showed that Supor Group, Su Zengfu and Su Xianze respectively transferred 9.71%, 4.24%, and 0.43% shares to SEB at a price of RMB 18 per share. Su Zengfu and Su Xianze directly cashed in 150 million yuan. The transfer price of 30 yuan per share, the Su family's reduction of cash up to 3.4 billion. Even if the transaction is completed, the Supor Group still holds about 11% of the shares of Supor.
Behind the founders' big gains is that their minds are no longer focused on small appliances: the Su family is making great strides in real estate, and Liu Jianguo loves the business of the golf industry. As a result, the small home appliance market that is regarded as "the last profit-making cheese in China's home appliance industry" will be transferred to two major European brands.
Ministry of Commerce to be approved
A few days ago, Kong Xianghui, chairman and executive vice president of Philips Greater China, said that the global headquarters of the company's home care business has been relocated to Shanghai and the acquisition of Pentium will help expand the product line and accelerate the deployment of the Chinese kitchen appliance market.
Hong Shibin, deputy director of the China Home Appliances Commercial Association Marketing Committee, said that the acquisition is expected to make up for the shortcomings of Philips in the 3rd and 4th markets, and directly increase revenue and market share. According to data from Yikang, the Pentium revenue in 2007 was over 1 billion yuan. From January to April 2011, the market share of Pentium rice cookers was 7.5%, ranking third in China; Induction cookers and electric pressure cookers ranked fourth.
The SEB holdings of Supor is even more revealing ambitions. According to public statistics, Supor's revenue in 2010 was 5.622 billion yuan, and its net profit realized was 405 million yuan. The year-on-year growth in revenue and net profit in the first quarter of this year exceeded 30%.
The reputation of SEB in China was initially unfavorable because it had operated a joint venture with a two-out model, causing the latter to lose money and earn short-term profits. Today, the growth of the small household appliance market in China has allowed it to begin to have a long-term layout. In the early days it tried to acquire ASD without fruit. Right now, it not only increases Supor shares, but also lays out a huge production base in Wuhan.
President Su Huai-zung of Supor told the newspaper that Wuhan Base has introduced SEB's production line and manufacturing process. Competition in the small household appliance industry in the future is largely a large-scale competition.
This arrangement may make Gree, Joyoung, and Gree, which is strengthening the small appliance business, feel guilty. In the past few years, the United States has led the Chinese small household appliances market, the stock price hit another record high, once attracted the United States Goldman Sachs of all ages. The latter had planned to inject capital in 2008 but ultimately failed to pass the approval of the Ministry of Commerce.
Luo Qingqi, a research expert in the home appliance industry, said that the Ministry of Commerce is in the process of formulating rules for the review of foreign mergers and acquisitions and intensifying the review of foreign mergers and acquisitions. He believes that the small household appliance industry should be a competitive part of the Chinese home appliance industry, and foreign mergers and acquisitions should be treated with caution.
At the beginning, SEB's acquisition of Supor had caused great concern in the industry. During this period, even incidents of accelerating corrupt officials through the review of the Ministry of Commerce had occurred.
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