Chinese company takes stake <br>in Esquires owners

BYBH will likely become the second largest shareholder in CGF with a stake of approximately 15%. Recognising the significance of this investment, a nominee of BYBH will be appointed to the new Esquires China board of directors. BYBH is ultimately owned by the Provincial Government of Yunnan province in China which controls a multi-billion dollar investment portfolio with a strong focus on property and covering sectors including Hotels, Hospitals, Education, Finance and Insurance.

CGF Chairman Keith Jackson said this was an outstanding opportunity for CGF to welcome a highly reputable cornerstone shareholder to CGF who is already very knowledgeable about the business and is committed to the growth of the brand internationally. In addition owning the China master franchise will give CGF greater flexibility for increased growth in China.