%20announced%20a%20reorganization%20of%20the%20Shanghai%20Five%20Star's%20new%20program:%20Best%20Buy%20Asia%20president%20and%20chief%20operating%20officer%20Yang%20Ming%20will%20have%20to%20become%20president%20of%20Five%20Star,%20Wang%20Jianguo,%20chairman%20of%20the%20former%20Five%20Star%20and%20other%20three%20founders...){kind=link}
Best Buy Group Weibo: U.s. Not Interested In Acquiring The Country
Announced the acquisition of a wholly-owned Five Star
, the Best Buy CEO of International Operations Group, Weibo (RobertWillett) announced a reorganization of the Shanghai Five Star's new program: Best Buy Asia president and chief operating officer Yang Ming will have to become president of Five Star, Wang Jianguo, chairman of the former Five Star and other three founders choose to leave; addition, will maintain Five Star Best Buy and the same pattern of dual brand.As for speculation whether the acquisition of a lot of GOME Electrical Appliances, Weibo sure to tell reporters that the U.S. is not interested in buying countries, past, present and the future of the country the United States did not purchase plan.
3 years ago, Best Buy has been holding the five-star appliances. Completed this year's wholly-owned five-star acquisition, RobertWillett finally had a Chinese Name: Wei Bo. He revealed to Five Star's new management team: Ming Yang was appointed legal representative and president of Five Star, the new recruits will serve as Chief Operating Officer Zheng day and chief operating officer, and five-star co-founder and currently executive vice president Wang Jian the Ren Baisi buy Chinese retail sales, vice president and president of Five Star.
Weibo star did not disclose the acquisition price of 100%, but that sold three years ago decided on. According to sources, the final price of 369 million U.S. dollars (about 25 billion yuan), the reporter was informed, Wang Jianguo, former executive vice president of Five Star Xuxiu Xian, Vice President Bian Huimin, Wang Jian and other four executives hold more than 50% of Five Star shares, the acquisition is completed, four founders to be among the "billionaires club."
, However, and Wang Jian remain different, the other three founders were active choice to leave. One of them said to reporters, except to enjoy life, Jian-Guo Wang also plans to open up a new career. It is said that Wang Jianguo Kunshan region of Jiangsu holding the company called "Jiangsu Pearl" company, the company main business is air conditioning distribution plans for the future listing on the GEM.
"Wholly beneficial to integrate the acquisition of resources, allow the company more efficient overall operation." Weibo announced purchase complete the five-star, the Best Buy in China has now entered a new stage of development, but the two-brand strategy remains unchanged. Tier Best Buy will open stores, Five Star is the second and third line market continues to expand. The two brands will be operated on their own but share the background resources.
Learned that four years ago, Best Buy just contact with Five Star, Five Star only 41 stores, now has more than 170 Five Star stores.
"It is a very good acquisition of five-star point in time." Wei Bo said, "choose a period of global recession now (he is expected to last 12-18 months) to invest, is to use this time recharge your batteries, ready for our systems and personnel, and other crises in the past, we have a better state. "
Weibo introduced this year, Best Buy's global investment will reach 10 billion U.S. dollars, next year is 600 million U.S. dollars. This is 1.6 billion U.S. dollars will be used to invest in technology, equipment and plant, etc. "We want to ensure sufficient cash flow for the company."
Best Buy Group Weibo: U.s. Not Interested In Acquiring The Country
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