China-based footwear company C. banner International Holdings (C. banner) has received investment from CVC Asia Pacific, CCC, and Mousse. CCC is under the management of China Consumer Capital Partners, while Mousse is a private company owned by New York-based Mousse Partners.
CVC, CCC, and Mousse each agreed to subscribe to a combination of existing shares in C.banner, exchangeable bonds issued by the three major shareholders, and the convertible bonds issued by C.banner. The proceeds are expected to be used by C.banner to fund strategic pursuits in the future, and for working capital requirements.
C.banner, which is listed on the Hong Kong Stock Exchange, is the second-largest shoe company in China in the mid-to-premium women’s footwear market.
Advising CVC Asia Pacific was a Hong Kong-based Freshfields Bruckhaus Deringer team led by Asia managing partner Robert Ashworth, partner Simon Weller, and counsel David Cotton. C.Banner, meanwhile, was represented by Sidley Austin. Walkers advised in the transaction as well. ALB
Candice Mak is North Asia Editor at ALB. Follow her on Twitter: @ALB_Magazine.
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