Xizi International Holding Co., Ltd completed the acquisition of an additional 15.2% interest in Baida Group Co.,Ltd for approximately CNY 710 million.
July 30, 2022
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Xizi International Holding Co., Ltd. made an offer to acquire and additional 8.5% interest in Baida Group Co.,Ltd (SHSE:600865) for approximately CNY 360 million on May 30, 2022. The tender offer period is 30 natural days in total, and the tender offer period starts from June 2, 2022 to July 1, 2022. As of June 17, 2022, the Baida's board approved the deal. CITIC Construction Investment Securities acted as fairness opinion provider to Baida. Caitong Securities Co.,Ltd. along with China Security Co., Ltd. acted as financial advisor while T&C Law Firm acted as legal advisor for Baida Group.
Xizi International Holding Co., Ltd completed the acquisition of an additional 15.2% interest in Baida Group Co.,Ltd (SHSE:600865) for approximately CNY 710 million on July 1, 2022. During the offer period, Xizi International Holding Co., Ltd. acquired 62.45 millions hares. Post completion,Xizi International Holding Co., Ltd. holds 45% stake of Baida Group Co.,Ltd.
BAIDA GROUP CO., LTD is a China-based company principally engaged in the operation of department stores and the retailing of commodities. The Company mainly sells general merchandise. The Company is also engaged in the provision of travel services. The Company mainly operates its business in domestic market.
Xizi International Holding Co., Ltd completed the acquisition of an additional 15.2% interest in Baida Group Co.,Ltd for approximately CNY 710 million.
BAIDA GROUP CO.,LTD 
