China: Footwear retailer Belle International's shareholders approve $6.8b privatisation

Photo: Belle International website

Belle International, China’s largest women’s footwear retailer, will withdraw from the Hong Kong Stock Exchange on July 27 after an offer to privatise the firm was approved by 98 per cent of its shareholders.

A consortium led by Hillhouse Capital and CDH Investments had offered to buy the entire business for HK$53 billion ($6.8 billion), Belle International had informed the stock exchange in April. The deal is one of the largest consumer buyouts in Asia.

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