Hong Kong 3rd Richest Billionaire Henry Cheng to Acquire Fashion Group Giordano for $326 Million through Family Office Vehicle Clear Prosper Global, $26 Billion Fortune and Controls Chow Tai Fook Jewellery & New World Development

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Hong Kong 3rd Richest Billionaire Henry Cheng to Acquire Fashion Group Giordano for $326 Million through Family Office Vehicle Clear Prosper Global, $26 Billion Fortune and Controls Chow Tai Fook Jewellery & New World Development

25th June 2022 | Hong Kong

Hong Kong 3rd richest billionaire Henry Cheng Kar-shun has placed an offer to fully acquire Fashion Group Giordano for $326 million through family offshore vehicle Clear Prosper Global.  Henry Cheng is Hong Kong 3rd richest man behind Li Ka-Shing and Lee Shau-Kee, with a personal estimated fortune of $26 billion and controls Chow Tai Fook Jewellery & New World Development.  On 8th of June 2022, Giordano announced a trading halt and on 23rd of June 2022, the takeover offer was made to acquire the remaining 75.4% shares at HKD 1.88 (18% premium over last traded price on 7th June 2022).  Giordano is founded by media tycoon Jimmy Lai (Next Digital) in 1981 after buying a bankrupt garment factory in 1975.  In 1996, Jimmy Lai sold Giordano.  Giordano: “Established in 1981, Giordano is one of the best known and established apparel retailers in the Asia Pacific region, employing approximately 5,900 friendly staff with around 2,100 shops operating in more than 30 countries and regions worldwide.”

“ Hong Kong 3rd Richest Billionaire Henry Cheng to Acquire Fashion Group Giordano for $326 Million through Family Office Vehicle Clear Prosper Global “

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