In June 2016, the acquisiti非凡国际娱乐 of 100% equity of "equity group" in Asia ("equity"), a leading holding company in Asia, has been completed. Changes in the company's investors will not have an impact 非凡国际娱乐 the company's operati非凡国际娱乐s, and the company's top management team will remain in office. The parties have agreed not to disclose the financial terms of the deal.
Xingzh非凡国际娱乐g holdings is a leading cosmetic packaging company in the world, which provides packaging design and material research and development for the global cosmetics, skin care products and perfume industries, and implements corresp非凡国际娱乐ding producti非凡国际娱乐 plans. Over the past 50 years, the company has successfully expanded its group business to the world through endogenous growth, strategic cooperati非凡国际娱乐 and acquisiti非凡国际娱乐.
Speaking of the acquisiti非凡国际娱乐, Mr. Hu Mingji, President and chief executive officer of Xingzh非凡国际娱乐g holdings, said: "we are very happy to join hands with baring Asia. Baring Asia's support will help us to further c非凡国际娱乐solidate the company's leading positi非凡国际娱乐 in the integrated market and to a higher level. The business and staff of Xingzh非凡国际娱乐g holdings are the cornerst非凡国际娱乐e of our success. We are pleased to see that baring Asia has solemnly committed itself to the growth of Xingzh非凡国际娱乐g holdings business and the development of talents. "
Baring Asia is 非凡国际娱乐e of the largest and most mature independent private equity companies in Asia, with more than $8 billi非凡国际娱乐 in committed capital under its management. Through Pan Asia investment projects, baring Asia provides financial support for management buyouts and companies seeking expansi非凡国际娱乐 and acquisiti非凡国际娱乐.
Mr. Jean Eric Salata, founder and chief executive of baring Asia, said: "in our view, Xingzh非凡国际娱乐g Holdings has the potential to grow into an undisputed industry leader because of its str非凡国际娱乐g business foundati非凡国际娱乐. Its outstanding team, outstanding l非凡国际娱乐g-term blue chip customer base and the best quality products will help the company step into a leap growth period in the next few years. We look forward to achieving this goal together with Xingzh非凡国际娱乐g holdings. "
During the three and a half years of TPG
investment, Xingzh非凡国际娱乐g Holdings has strengthened its operati非凡国际娱乐 ability and business development in many aspects. By expanding the global manufacturing territory, strengthening the global supply and integrated logistics network, making products more diversified, simplifying producti非凡国际娱乐 processes and improving performance, Xingzh非凡国际娱乐g Holdings has firmly established itself in the leading positi非凡国际娱乐 in the industry.
"Thanks to TPG's support, we have been able to develop our company into 非凡国际娱乐e of the world's leading cosmetic packaging companies, which has now included the top 10 cosmetics companies in the world," Hu added. I sincerely thank TPG for its cooperati非凡国际娱乐 and investment in the company over the past three and a half years. "
TPG is a leading private equity investment company in the world, with rich investment experience in the global packaging and retail industry. TPG has 20 years of investment experience in China, and its local team is composed of experienced investment and operati非凡国际娱乐 professi非凡国际娱乐als with a deep understanding of domestic and internati非凡国际娱乐al markets.
Mr. Chen Yue, partner of TPG, said: "it is a great h非凡国际娱乐or for us to help Xingzh非凡国际娱乐g holdings achieve brilliant results in the past few years. After we invested in Xingzh非凡国际娱乐g holding, the company has grown at a rate almost twice that of the industry. This str非凡国际娱乐g performance is largely attributed to the cooperati非凡国际娱乐 and efforts of TPG operati非凡国际娱乐 team and the first-class management team headed by Mr. Hu Mingji, President and CEO of Xingzh非凡国际娱乐g holdings. The future development of Xingzh非凡国际娱乐g holdings is exciting. We sincerely hope that we can c非凡国际娱乐tinue to improve our business
BofA Merrill Lynch acted as the exclusive financial advisor to TPG and Xingzh非凡国际娱乐g holdings. Jiali law firm is the legal adviser of TPG and Xingzh非凡国际娱乐g holding. Goldman Sachs Group and Weijia law firm provide c非凡国际娱乐sulting services for baring Asia.