DGAP-News: Joyou AG: New shareholder structure strengthens global cooperation with Grohe
(firmenpresse) - DGAP-News: Joyou AG / Key word(s): Transaction in Own Shares
Joyou AG: New shareholder structure strengthens global cooperation
with Grohe
21.03.2013 / 08:25
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Joyou AG: New shareholder structure strengthens global cooperation with
Grohe
Hamburg, 21 March 2013. The major shareholders of Joyou AG, Mr. Jianshe Cai
and Mr. Jilin Cai, Grohe Group and its major shareholders, have agreed on a
new shareholder structure of the company. Messrs. Cai will trade their
direct holdings of approximately 7.9 per-cent in Joyou AG as well as their
indirect holdings of approximately 28.6 per-cent via Joyou Grohe Holding AG
for an important stake in the Grohe Group. As a result the Grohe Group will
increase their total Joyou AG shareholdings to approximately 72.3 per-cent.
The free float of 27.7 per-cent will not be influenced by the transaction.
The parties intend to sign a corresponding new shareholders' agreement and
to complete the transaction in near term.
The major shareholders are committed to the listing of Joyou AG in the
Prime Standard of the Frankfurt Stock Exchange. A delisting or downlisting
to a lower level stock market segment is not intended.
In line with the long lasting and successful cooperation between Messrs.
Cai and the Grohe Group, the parties intend to further intensify their
joint activities and enhance the companies' international positioning. 'Our
aim is to create a house of brands operating under Grohe and Joyou on a
global perspective. I am convinced that Joyou and the Grohe Group will
mutually benefit from each other in regards to technology as well as to
cooperation in sourcing and distribution,' says Jianshe Cai, CEO of Joyou
AG. 'We are delighted to bring two great companies closer together to
better leverage each others expertise. Joyou will help expand Grohe sales
in China and Grohe Group will help Joyou to become a successful
international brand,' he adds.
About Joyou
Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces
and mainly sells products for the entire bathroom solution in China under
its brand name 'Joyou' and is also engaged as a OEM/ODM-manufacturer for
international brands and trading companies in the United States and Europe
as well as other emerging markets. In 2011 Joyou was one of the leading
single-brand manufacturers of bathroom, and other faucets in China in terms
of revenues (according to BSRIA's China Bathroom Study 2011). Joyou has
established an extensive distribution network in China with over 4,000
retail points of sales as of 31 December 2012.
Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian
Province in China. Joyou mainly sells under its own brand name and has the
following nine product groups in its business portfolio: Bathroom Faucets,
Kitchen Products, Shower Products, Ceramics and Bathtubs, Bathroom
Cabinets, Bathroom Accessories, Other Faucets and Sanitary Hardware, Copper
and Semi-Finished Components, Grohe Business. In 2011, Joyou realised group
revenues of EUR 287.1 million, an operating profit (EBIT) of EUR 45.3
million and a net profit of EUR 38.5 million.
For further information, please contact:
Joyou AG
Winterstraße 4-8
22765 Hamburg
Ian M. Oades, tel.: +86 595-8618 8883, ir(at)joyou.net
Kirchhoff Consult AG
Jens Hecht, tel.: +49 40 60 91 86 0, jens.hecht(at)kirchhoff.de
or visit the company website at: http://www.joyou.com
End of Corporate News
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21.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Joyou AG
Westhafentower, Westhafenplatz 1
60327 Frankfurt am Main
Germany
E-mail: ir(at)joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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203697 21.03.2013
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Datum: 21.03.2013 - 08:25 Uhr
Sprache: Deutsch
News-ID 241611
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