C.Banner International acquired EtonKids Educational for $79.4m in cash

C.banner International Holdings Limited, the leading international integrated retailer and mid-to-premium footwear brand in China, today is pleased to announce that after trading hours on 21 July 2017, it has entered into an agreement with the Sellers to purchase 6,319,820 Sale Shares of EtonKids Educational Group Limited with a cash consideration of $79.4m, representing 45.78% of the issued share capital of EtonKids Educational Group. Upon Completion, the EtonKids Educational Group will be held by C.banner as to 45.78% and by the Founder Company as to 54.22%, and 13.22% of the issued share capital held by the Founder Company is subject to a call option granted to a third party. Upon full exercise of such call option by the third party, C.banner, the Founder Company, and the third party will hold 45.78%, 41%, and 13.22% of EtonKids Educational Group’s issued share capital respectively.