Following its acquisition of Alexander Health Clubs' (
Kelti chairman Chen Wu-kang (陳武剛) confirmed that one of the firm's subsidiaries had invested more than US$7 million to take a controlling stake in Alexander's China-based holding company last month, the Economic Daily reported yesterday.
"[Kelti] now has seven China-based outlets in operation and plans to open new outlets in the future," 67-year-old Chen said, adding that he would head Alexander China and become its new chairman.
Chen also expressed an interest in acquiring Alexander's operations in Taiwan, although he raised concerns over the company's financial position.
"It's not decided yet," he said. "I have urged the government to step in and clarify the complications, which involve the members, its landlords and the rights of debt owners."
Chen said there were five other firms also interested in taking over Alexander's local outlets.
Alexander Group (亞力山大集團) chairwoman Candy Tang (唐雅君), currently on bail, confirmed that Chen's Kelti had taken over the firm's Chinese outlets, the Commercial Times reported yesterday.
She said Kelti has been a successful direct sales firm in China. After the merger, synergies would be created once an integration of the companies' resources and sales channels was completed, she said.
"That was why Chen appeared in court [last Friday as a witness] to clarify [our] NT$250 million cash flow," Tang said.
She said that the firm is in intensive talks with prospective buyers for the Taiwanese outlets.
She said she would welcome a bid from Kelti for Alexander's outlets in Taiwan.
Tang said she was confident the firm would strike a deal to sell Alexander's Taipei headquarters today, which would allow the firm to resume some of its operations.
Tang plans sell the firm's 16 outlets in Taiwan separately. The dancer-turned-entrepreneur said that four Alexander outlets would be jointly taken over by members and the landlord.
Tang also plans to negotiate with potential investors next week in a bid to resume operations at outlets outside of Taipei the report said.
Also see: Alexander closure requires action
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