Financing of 400 million U.S. dollars Gome plight does not affect short-term future - GOME Electrical Appliances, ST Triple - HC Network Appliance

Financing of 400 million U.S

Financing of 400 million U.S. dollars Gome plight does not affect short-term future - GOME Electrical Appliances, ST Triple - HC Network Appliance

Huang Guangyu Occurred more than six months of, and has never concern to the industry

Gome Also quietly layout with its own strategic transformation. In recent months, the equity financing to be transferred Gome rumors circulating in the industry. Now dust off the basic set, the U.S. private Jijinbeien capital injection program has GOME GOME board meeting for approval. Bain Capital plans to 400 million U.S. dollars (approximately 31.2 billion) acquisition of 18% stake in the country while the United States, will subscribe for convertible bonds GOME.

Huang Guangyu worry too much stake the United States will adversely affect the country who can now relax taut nerves a little, after share transfer, Bain Capital stake in Gome in about 14%, Huang Guangyu couples shares fell from 35.5% to nearly 30%, but still holds the largest shareholder. Chen Xiao original Paradise boss took over the country the U.S. has, "Huang Guangyu era after the" how to make the country the United States to maintain its leading position in the 3C chain has become the focus of the industry.

Bain Capital wins The first few months, Gome shares sold had aroused the interest of many investors, the trade rumors, including international private equity funds KKR and Bain Capital consortium jointly, a subsidiary of Fortress Hong Kong Li Ka-shing, Fosun Chairman Guo Guangchang and global

Home Appliances Giant Best Buy And so on.

According to "The Wall Street Journal" reported that Gome has held a provisional board of directors, in principle, Bain Capital injection by the U.S. State program. With previous speculation that the industry and the private placement equity transfer in different ways, the Bain Capital and existing shareholders have the right to Gome "common stock" form to subscribe for new shares issued by 18%. The source said that because of the United States in May 2007 a huge bond issue 4.6 billion due next year, the country will face the United States short-term redemption pressures. Among the co-operation in, Bain Capital will subscribe for 4.6 billion Hong Kong dollars, Gome's 12% convertible bonds, annual interest rate of 5%. Bain Capital is also essential to determine matters at stake in Gome had been the clear winner.

This winning program, "Subscription of convertible bonds" is the biggest difference with the previous rumors. Earlier rumors have focused on issuing additional equity financing to solve the problem country the United States of convertible bonds, and Bain Capital's program is part of the direct digestion of the States United States convertible bonds.

Bain Capital is an international private equity investment fund, established in 1984, many industries around the world providing more than 250 private equity investments and add-on acquisitions. Bain Capital's assets of about 250 billion U.S. dollars, has raised more than 1 billion U.S. dollars of capital to invest in China one after another, and before and after 2002, investment in China's Sina, Baidu, Tencent and other Internet companies.

Dual factors At the time of the incident Wong Kwong Yu, is a global

Financial Crisis spreads, by two factors, the country entered the United States in high-speed expansion depth adjustment phase, while off poor performance of the shop, while improving the performance of other stores.

Suspended for 5 months on April 28 Gome Huang Guangyu incident released the first financial report, released in 2008 full-year results, subject to repurchase shares and investment

Triple Trading Company Influence the market value fell, profit growth has been rapid decline in the first time in net profit last year, Gome, its annual net profit to 1.048 billion yuan, 1.127 billion yuan more than in 2007 fell 7%.

Gome store off the first quarter of 2009, 43, profit 322000000 yuan, down 37.23%, which is the latest release of the first quarter of Gome quarterly data displayed. This year in February, the country announced that it would not conduct high-level U.S. expansion in 2009 will close about 100 stores. A quarter of the number of Gome stores account for the whole year off nearly half of the indicators. Huang Guangyu incident, Gome in HKEx 3 months suspension period, the public relations shop this year to improve the performance of a single shop strategic objectives.

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