Joyou AG: New shareholder structure strengthens global cooperation with Grohe

(PresseBox) ( Hamburg, )
The major shareholders of Joyou AG, Mr. Jianshe Cai and Mr. Jilin Cai, Grohe Group and its major shareholders, have agreed on a new shareholder structure of the company. Messrs. Cai will trade their direct holdings of approximately 7.9 per-cent in Joyou AG as well as their indirect holdings of approximately 28.6 per-cent via Joyou Grohe Holding AG for an important stake in the Grohe Group. As a result the Grohe Group will increase their total Joyou AG shareholdings to approximately 72.3 per-cent. The free float of 27.7 per-cent will not be influenced by the transaction. The parties intend to sign a corresponding new shareholders' agreement and to complete the transaction in near term.

The major shareholders are committed to the listing of Joyou AG in the Prime Standard of the Frankfurt Stock Exchange. A delisting or downlisting to a lower level stock market segment is not intended.

In line with the long lasting and successful cooperation between Messrs. Cai and the Grohe Group, the parties intend to further intensify their joint activities and enhance the companies' international positioning. "Our aim is to create a house of brands operating under Grohe and Joyou on a global perspective. I am convinced that Joyou and the Grohe Group will mutually benefit from each other in regards to technology as well as to cooperation in sourcing and distribution," says Jianshe Cai, CEO of Joyou AG. "We are delighted to bring two great companies closer together to better leverage each others expertise. Joyou will help expand Grohe sales in China and Grohe Group will help Joyou to become a successful international brand," he adds.
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