Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Samsonite Shareholders Sold $528 Million Stake, Terms Say

Samsonite Shareholders Sold $528 Million Stake, Term Sheet Says
Samsonite International S.A. suitcases are displayed in a Samsonite retail store in Hong Kong. Photographer: Jerome Favre/Bloomberg

March 25 (Bloomberg) -- Royal Bank of Scotland Group Plc and CVC Capital Partners Ltd. sold a combined 212.4 million shares in Samsonite International Sa., the world’s largest branded luggage maker, for about $528 million, according to a term sheet obtained by Bloomberg News.

The stock was sold at HK$19.28 a share and about 65 percent of the shares sold came from CVC with RBS selling the remaining, the termsheet said. The price is 3.5 percent lower than the luggage maker’s March 22 closing price of HK$19.98.

The investors sold the shares after Samsonite shares climbed more than 40 percent over the past year, topping the benchmark Hang Seng Index’s 7 percent rise. The luggage maker this month reported a 71 percent jump in profit from the previous year to $148.4 million in 2012.

Goldman Sachs is the sole bookrunner and the transaction was priced on March 25, the terms said. Samsonite fell 1.8 percent to close at HK$19.62 in Hong Kong today.

To contact the reporter on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net

To contact the editor responsible for this story: Anjali Cordeiro at acordeiro2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.