Gome Electrical Appliances Holdings Ltd. profit jumped 13 percent in the third quarter as consumers in the world’s fastest-growing major economy spurred demand at China’s second-largest electronics retailer.
Huang Guangyu , imprisoned founder of Gome Electrical Appliances Holdings Ltd ., has retained international law firm Hogan Lovells as he seeks to regain control of the company, the South China Morning Post reported.
Jailed billionaire Huang Guangyu , fighting for control of the electronics retailer he founded, failed to win investor support for his proposals to oust its chairman and install his sister and lawyer as directors.
Billionaire Huang Guangyu ’s representatives are in discussions with all the shareholders of Gome Electrical Appliances Holdings Ltd. , including Bain Capital LLC, as he fights for control of China’s second-largest electronics retailer.
Gome Electrical Appliances Holding Ltd. Chairman Chen Xiao quit, succumbing to a seven-month campaign by billionaire founder Huang Guangyu to reassert control over China’s second-largest electronics retailer from a prison cell.