News Last June, the Soleure based watch manufacturer Eterna passed into Chinese hands. It was sold by its former owner, the German family-run holding company Porsche Beteiligungen (FAP), to the China Haidian group. Owned since 1995 by FAP, Eterna now enters the fold of International Volant Limited, a holding company and subsidiary of China Haidian controlled by the Chinese entrepreneur Hon Kwok Lung.
It was apparently the intention of both parties that details of the transaction should remain strictly confidential. However that was without reckoning on stock market obligations and therefore partial transparency of the new owner’s parent company, China Haidian. According to documents submitted by the group to the Hong Kong stock market, the deal went through for the sum of 22.9 million francs.
August 25, 2011