Beiersdorf signs for C-BONS Hair Care business in China

03 Oct '07

2 min read

Beiersdorf Aktiengesellschaft, Hamburg entered through its Austrian 100% affiliate, Beiersdorf CEE Holding GmbH (“Beiersdorf”), into a share purchase agreement with C-BONS Holding (International) Limited (“C-BONS”), a Hong Kong company, and Global Source Investments Limited (“Global Source”), a British Virgin Islands company, to acquire 85% of the shares in Peak Victory Group Limited that holds the C-BONS hair care businesses in China (“C-BONS Hair Care”).

The purchase price for such 85% is based on an enterprise value (debt- and cash-free) of 317 million Euro for 100% of C-BONS Hair Care and amounts to 269.45 million Euro, subject to customary adjustments.

Global Source will continue to hold an equity stake of 15% in the business for an interim period of at least two years after closing.

Beiersdorf and Global Source will each have options to acquire or sell, respectively, the remaining 15% for a minimum price of 47.55 million Euro and subject to increase based on future performance of C-BONS Hair Care. The closing of the transaction is subject to customary closing conditions and is expected before the end of 2007.

C-BONS is a Hong Kong company with businesses across various industries including personal care, real estate, pharmaceutical and other areas.

C-BONS Hair Care offers a wide range of shampooing, conditioning and hair styling products with strong and well-known brands in China such as SLEK and Maestro.

C-BONS Hair Care is one of the leading players in the Chinese hair care market with a well-developed distribution network in China.

Beiersdorf AG

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