Hillhouse Capital’s Lei Zhang Defends $6.8B Privatization Of China’s Biggest Shoe Retailer Belle International

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When China’s largest footwear retailer Belle International was delisted from the Hong Kong Stock Exchange in July following a US$6.8 billion take-private deal, the news was greeted with melancholy. "The Official Fall Of The King Of Shoes", read one headline, catching the sentiment of the time.

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