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January 24, 2019

Wuhan Zhongshang to buy Easyhome New Retail for $5.65bn

China-based Wuhan Zhongshang Commercial Group is set to acquire a retail unit owned by home improvement retailer Easyhome in a deal valued up to $5.65bn. 

China-based Wuhan Zhongshang Commercial Group is set to acquire a retail unit owned by home improvement retailer Easyhome in a deal valued up to $5.65bn.

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In stock exchange filings, Wuhan Zhongshang said it will issue six billion shares for CNY6.18 ($0.91) per share, which would value the business between CNY36.3bn ($5.35bn) and CNY38.3bn ($5.65bn), reported Reuters.

The deal will also allow the reverse initial public offering for Easyhome’s retail arm on the Shenzhen stock exchange.

Following completion of the transaction, Easyhome will act as a controlling shareholder in the new retail firm.

Alibaba Group Holding along with 22 investors such as Sequoia Capital and Taikang Life will hold minority stakes in the company.

Easyhome and Alibaba did not respond to Reuters’ requests when asked to further comment on the deal.

“Following completion of the transaction, Easyhome will act as a controlling shareholder in the new retail firm.”

Established in 1999, Easyhome operates home improvement supplies and furniture retail business in China.

The Beijing-based company also offers building materials and provides home design and refurbishment services.

The company currently operates an online retail platform under the new retail unit offering a range of items and order services to customers.

Developed with the help of Alibaba, the platform is also integrated with 284 Easyhome stores.

Last year, Alibaba acquired a 15% stake in Easyhome Furnishing for a total consideration of $867m.

The deal expanded Alibaba’s new business model by integrating bricks-and-mortar and online shopping segments.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.