Yum plans buyout of Little Sheep

By He Shan
0 CommentsPrint E-mail China.org.cn, April 27, 2011
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 Yum plans buyout of Little Sheep

 肯德基母公司计划全面控股小肥羊餐饮

Yum Brands Inc., owner of KFC, Pizza Hut and Taco Bell fast-food brands, held talks with Little Sheep, a Chinese hot pot restaurant chain, about purchasing all outstanding shares of the company, Little Sheep said in documents filed with the Hong Kong Stock Exchange yesterday evening. 

小肥羊餐饮公司昨晚在港交所发布公告称,美国百胜餐饮集团(Yum)已与董事会就现金收购全部已发行股份进行了接洽,如收购完成,百胜将全面控股小肥羊。

Shares of Little Sheep were suspended from trading yesterday morning awaiting a major announcement by the firm, stoking speculations in the market that Yum is considering making a buyout offer for the Baotou, Inner Mongolia-based company. 

 4月26日早间,在港上市公司小肥羊宣布今日起暂停股票买卖,将公布股价敏感资料。此后市场传闻美国百胜餐饮集团(Yum)正在考虑全面收购小肥羊。

 

Yum already holds a 27.2 percent stake in Little Sheep, which it purchased in 2009. If the deal is successful, Yum will become the hot pot-restaurant operator's largest shareholder, though Little Sheep's former president Zhang Gang will retain a limited stake of 2.41 percent, according to Little Sheep documents. 

作为小肥羊的第二大股东,百胜(Yum)目前持有小肥羊集团约27.2%的股份。小肥羊方面表示目前百胜(Yum)已经与董事会主席张钢进行了收购方案的初步讨论,如收购完成,将允许小肥羊董事长及其他创始股东保留少数股份,张钢直接持有2.41%的股份。 

The talks are still preliminary, and no formal offer has been made, a spokesperson for Yum said. 

 

百胜(Yum)目前尚未正式向小肥羊提交收购要约,仅处于初步接洽阶段。 

Although Little Sheep is registered overseas, the deal is still subject to the approval of China's Ministry of Commerce. Market analysts said the deal faces less regulatory hurdles than the merger between Coca Cola and Huiyuan Juice Group that collapsed in 2009. The acquisition will help Yum solidify its presence in fast-growing China's market through enlarging its market share, they noted.

 

市场分析人士认为,小肥羊尽管在海外注册,但百胜如全面收购仍需商务部审批,其审批难度应低于此前可口可乐公司并购汇源果汁一案。 如本次收购成功,百胜集团有望为其本地化战略走出坚实一步,并提升在国内餐饮业中的市场份额。

 

Little Sheep, which listed on the Hong Kong exchange in June 2008, had opened 480 stores by mid-2010, netting 188 million yuan in profits last year.

 

小肥羊餐饮以小肥羊特色火锅连锁为主业,于2008年6月在香港上市。截止2010年年中,小肥羊拥有179自营餐厅及301家特许经营餐厅,2010年实现净利1.88亿元人民币。 

China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
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