RELEASE – Value Partners Group announces joint venture with Yunnan Industrial Investment Holding Group Ltd. to set up private equity fund management company in China
Value Partners Group Announces Joint Venture with
Yunnan Industrial Investment Holding Group Ltd.
to Set Up Private Equity Fund Management Company in China
(Hong Kong, 21 January 2011) — Value Partners Group Limited (together with its subsidiaries, “Value Partners” or “the Group”, Hong Kong Stock Code: 806) today announced the signing of an agreement to set up a joint venture private equity fund management company (“FMC”) with 雲南省工業投資控股集團有限責任公司(Yunnan Industrial Investment Holding Group Ltd.) (“Yunnan Industrial Investment”) in China. Under the partnership, both companies have agreed to jointly set up a FMC in Kumming, Yunnan, China, in which Value Partners will hold a 60% stake in the FMC, while Yunnan Industrial Investment will hold a 40% stake, andthe partners will manage the FMC together. The initial registered capital of the FMC will beRMB15 million.
Through the management of the FMC, Value Partners intends to establish a renminbidenominated private equity fund (“Fund”) by the end of this year, with the aim of raising RMB500 million for the Fund. Subject to the approval from China’s regulatory authorities, the two companies will jointly invest around RMB150 million (in proportion to their respective stakes in the FMC) in the Fund as seed capital.
For more details, please download the Press Release. Thank you.