ChinaBase Completed the Management Buy-outs (MBO) Project For SAINT-GOBAIN PAM (CHINA)

Recently, ZheJiang QianTangJiang Financial Research Asset Management Co., Ltd. (FR Asset), which as the holding company of ChinaBase, together with other financial partners have completed the SAINT-GOBAIN PAM (China) employee shareholding and mixed ownership reform project.

• SAINT-GOBAIN PAM, founded in 1856, belongs to Saint-Gobain Group, a world top 500 company with 365 years of history. 

• SAINT-GOBAIN PAM has been a leader of comprehensive ductile iron pipe and fittings for water and sewage networks and is committed to providing customers with high-quality systematic total solutions for pipeline networks, including pipes, fittings, valves, access covers and gratings, etc. 

• In the 1960s, SAINT-GOBAIN PAM produced the world's first zinc-sprayed ductile iron pipe. Over the past 165 years, people of SAINT-GOBAIN PAM have always persisted in their initial efforts to promote the continuous development of the industry, attaching value to customers, high quality, and innovation.)
  

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In this Management Buyouts (MBO) Project, FR Asset and co-investors acquire Saint-Gobain Pam (China) for more than 500 million RMB, holding a combined large fraction of the ownership. FR Asset together with co-investors grants the company not only financial support, but also industrial resources as well as local governmental policy advantages to achieve mutual benefit and win-win situation for the investor, government and enterprise.

Benoit Bazin, Chief Operating Officer of Saint-Gobain Group, sent a congratulation message saying: “Very Glad to conclude our PAM China Discussion in the best possible way with our local management team and trusted partners taking a large majority stake. Saint-Gobain will remain a minority shareholder and bring technical support.”