Related News
Haier acquires NZ appliance maker Fisher & Paykel
By Ding Yining |
November 6, 2012, Tuesday
|
Online Edition
Online Edition
CHINA'S largest home appliance maker, Haier Group, said it has bought more than 90 percent shares of a small business rival, Fisher & Paykel Appliances, triggering a compulsory acquisition procedure to take over the remaining shares and delist the company.
This signals the latest move in Haier's long-term efforts to expand business overseas.
The Qingdao-based company said it now owns a 92.79 percent stake in the New Zealand home appliance maker after offering NZ$1.28 (US$1.06) per share, according to a stock exchange filing in Wellington today.
"We look forward to working with Fisher & Paykel Appliances during the next phase of the development and seeking opportunities for further collaboration to strengthen both brands," said Liang Haishan, chairman of Haier New Zealand Investment Holding Ltd.
Industry watchers noted that Haier has been eager to expand its businesses in overseas markets at a time of fierce competition from Gree and Midea in the local market.
Last month, it won regulatory approvals from both Chinese and New Zealand authorities for the takeover.
Haier already owned a 20 percent stake in Fisher & Paykel before making the latest bid and raised the offer to US$761 million in October.
This signals the latest move in Haier's long-term efforts to expand business overseas.
The Qingdao-based company said it now owns a 92.79 percent stake in the New Zealand home appliance maker after offering NZ$1.28 (US$1.06) per share, according to a stock exchange filing in Wellington today.
"We look forward to working with Fisher & Paykel Appliances during the next phase of the development and seeking opportunities for further collaboration to strengthen both brands," said Liang Haishan, chairman of Haier New Zealand Investment Holding Ltd.
Industry watchers noted that Haier has been eager to expand its businesses in overseas markets at a time of fierce competition from Gree and Midea in the local market.
Last month, it won regulatory approvals from both Chinese and New Zealand authorities for the takeover.
Haier already owned a 20 percent stake in Fisher & Paykel before making the latest bid and raised the offer to US$761 million in October.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
