[TodayIR] Vinda acquires remaining 59% stake in V-Care for HK$295 million to fully tap China’s personal care market (7 July 2014 – Hong Kong) Vinda International Holdings Limited (“Vinda International” or the “Company”, which together with its subsidiaries is referred to as the “Group”; stock code: 3331) is pleased to announce that it proposes buying 59% of the issued share capital of V-Care Holding Limited (“V-Care”) for a cash consideration of HK$295 million. Upon the completion of the transaction, V-Care will become an indirect wholly-owned subsidiary of the Company. V-Care is principally engaged in the manufacturing and provision of professional personal care products in mainland China, and its principal products include baby diapers and feminine sanitary napkins. V-Care rolled out its proprietary baby care brand, Babifit, in 2011, and a sanitary napkin brand, VIA, which is aimed at young and stylish females in 2013. Ms. Donna Zhang, the Chief Executive Officer of the Group, said, “Vinda is dedicated to business diversification because we see a promising prospect in China’s personal care market. With the personal care business under Vinda’s umbrella, we will not only be able to improve corporate governance, but also exercise complete control over the personal care business and better leverage the Group’s resources to reap the maximum rewards from V-Care’s future growth and profitability. This will in turn generate better returns for our shareholders.”
[TodayIR] Vinda acquires remaining 59% stake in V-Care for
Press spacebar to pause and continue. Press esc to stop.