Taiwanese actress Barbie Hsu's mother-in-law's firm South Beauty, which operates a chain of high-end restaurants in China, is said to be bought over by London-based private equity firm CVC.
South Beauty was set up by Zhang Lan in 2000 and managed by her and son, Wang Xiaofei, who married Barbie three years ago. The company then expanded to Taiwan.
Zhang Lan said: 'The deal has only just been approved, and both parties have not signed it yet.' CVC is said to be buying 69 percent of South Beauty's shares, while Zhang Lan's management will hold on to 31 per cent.
Regarding the ministry's approval for acquisition, Zhang Lan said that she 'had no choice' and that she 'did not violate any rules'.
Wang Xiaofei declined to comment, but the General Manager of a Taiwan South Beauty branch said: 'We have not received any notification that we are to be acquired.' He even added that the restaurant is fully booked for Chinese New Year, and there may be expansion plans in future.
Barbie's mother also said that she has not heard anything about acquisition. 'Don't worry, South Beauty is managed by both Zhang Lan and Xiaofei. I'm sure they will want the best for the company,' she said.
South Beauty was set up by Zhang Lan in 2000 and managed by her and son, Wang Xiaofei, who married Barbie three years ago. The company then expanded to Taiwan.
Zhang Lan said: 'The deal has only just been approved, and both parties have not signed it yet.' CVC is said to be buying 69 percent of South Beauty's shares, while Zhang Lan's management will hold on to 31 per cent.
Regarding the ministry's approval for acquisition, Zhang Lan said that she 'had no choice' and that she 'did not violate any rules'.
Wang Xiaofei declined to comment, but the General Manager of a Taiwan South Beauty branch said: 'We have not received any notification that we are to be acquired.' He even added that the restaurant is fully booked for Chinese New Year, and there may be expansion plans in future.
Barbie's mother also said that she has not heard anything about acquisition. 'Don't worry, South Beauty is managed by both Zhang Lan and Xiaofei. I'm sure they will want the best for the company,' she said.