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2008-11-26 10:41:00 a.m. HKT, XFNA
Hong Kong's Natural Beauty agrees to privatization
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HONG KONG (XFN-ASIA) - Natural Beauty Bio-Technology Ltd (NBBL), a skin-care
products and treatments provider, said it has agreed to be taken private by
Global Radiance Co Ltd.
Shareholders have been offered 1.2 hkd in cash for every NBBL share held, the
company said, with an option to receive 0.28 hkd in cash, plus 0.000047 ordinary
shares and 0.11 7868 preferred shares in Global Radiance Holdings Ltd, which
will control NBBT after completion of the deal.
Major shareholders - Efficient Market Ltd, Adventa Group Ltd and Fortune Bright
Ltd - have committed to sell their combined stake of 65.56 pct under the terms
of the offer, NBBL said.
The Global Radiance group is controlled by private fund manager CVC Asia
Pacific Ltd.
At 10:31 am, NBBL was down 0.25 hkd or 17.6 pct at 1.17.
(1 usd = 7.8 hkd)
george.ng@xfn.com
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