ShawKwei & Partners unwinds investment in Yongle Tape
February 07, 2017
Commercial Products | Hebei, China | Corporate Acquisition
ShawKwei & Partners and current company management have agreed to sell Yongle Tape to Avery Dennison (NYSE: AVY) for $190 million, with potential additional earnouts of up to $55 million in the next two years based on certain performance targets. ShawKwei had delisted Yongle Tape, a manufacturer of specialty tapes and related products, from the Singapore Stock Exchange in 2012 as part of a $66 million take-private buyout.