Edition:
India

Ted Baker Creates JV To Expand Brand In Mainland China, Hong Kong And Macau


Wednesday, 10 Apr 2019 

April 10 (Reuters) - Ted Baker PLC ::TED BAKER PLC - JOINT VENTURE.TED BAKER PLC - CREATION OF JOINT VENTURE TO EXPAND TED BAKER BRAND IN MAINLAND CHINA, HONG KONG AND MACAU.TED BAKER - NEW JV TO OPERATE TED BAKER RETAIL, CONCESSIONS AND ONLINE CHANNELS IN SIGNIFICANT MAINLAND CHINA, HONG KONG AND MACAU MARKETS.TED BAKER PLC - TED BAKER'S NET CASH CONTRIBUTION IS ANTICIPATED TO BE IN REGION OF RMB30M (C.£3.4M) FOR JV.TED BAKER PLC - JOINT VENTURE IS EXPECTED TO BE MARGINALLY ENHANCING TO GROUP PROFIT BEFORE TAX IN CURRENT FINANCIAL YEAR.TED BAKER PLC - AS PART OF DEAL, TED BAKER WILL TRANSFER ITS OPERATIONS IN CHINA AND HONG KONG INTO NEW JOINT VENTURE.TED BAKER PLC - ANTICIPATES TRANSACTION RELATED COSTS AT COMPLETION OF APPROXIMATELY £6.5M.TED BAKER - TO ISSUE SHARES IN UNIT BAKER HONG KONG TO JV PARTNER FOR A TOTAL SUBSCRIPTION PRICE OF RMB50M FOR 50% INTEREST IN SHARES IN TBHK.TED BAKER PLC - ANTICIPATES AROUND RMB 40M (C.£4.6M) OF TOTAL CAPEX FOR JV FOR CURRENT YEAR AND NEXT FULL FINANCIAL YEAR.