According to the agreement, Dangdang Merger Company will merge with China Dangdang, which will survive as a wholly-owned subsidiary of the parent.
The merger will entail price of approximately $556 million, representing a premium of 2.9 per cent over the company's closing price on its last trading day. It will be funded by rollover financing from shareholders, proceeds from a committed loan facility and the available cash with parent company.
The transaction is expected to close by the second half of 2016, subject to customary closing conditions. (MCJ)
Fibre2Fashion News Desk - India
Apparel/Garments | On 27th Jun 2017
Vietnam's Ho Chi Minh City will build large centres for designing...
Textiles | On 27th Jun 2017
Unitin, a trademark of Industrias Morera SA and a leading textile...
‘Indian footwear market is nascent and largely a trend follower’
Shiladitya K Joshi
Truetzschler India Private Limited
India ITME provides a platform to interact with our stakeholders
‘There has been an increase in demand for water based inks, rather than...
About one in every 20 patients picks up an infection while hospitalised....
InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Aditi Somani specialises in luxury fusion wear with international cuts and ...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...