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05-01-2018, 09:15 PM
HNA Said to Walk Away From Late-Stage Value Partners Talks
By Jonathan Browning
January 5, 2018, 10:22 AM GMT+8 Updated on January 5, 2018, 5:06 PM GMT+8
HNA Group Co. walked away from late-stage negotiations to buy a stake in Hong Kong fund house Value Partners Group Ltd., people with knowledge of the matter said.
HNA pulled out of talks to buy a significant stake from Value Partners founders Cheah Cheng Hye and V-Nee Yeh just weeks before a final agreement was expected to be signed, according to one of the people. The Chinese conglomerate’s termination of the negotiations wasn’t related to difficulty obtaining financing, another person said, asking not to be identified because the information is private.
Value Partners, which has a market value of about $1.9 billion, said in a filing Thursday that the two shareholders’ discussions with an unnamed suitor were scrapped due to commercial considerations. Shares of Value Partners, which had rallied since Bloomberg News first reported talks with HNA in May, fell 4.7 percent to HK$8.08 at the close Friday in Hong Kong.
More details in https://www.bloomberg.com/news/articles/...deal-talks
By Jonathan Browning
January 5, 2018, 10:22 AM GMT+8 Updated on January 5, 2018, 5:06 PM GMT+8
HNA Group Co. walked away from late-stage negotiations to buy a stake in Hong Kong fund house Value Partners Group Ltd., people with knowledge of the matter said.
HNA pulled out of talks to buy a significant stake from Value Partners founders Cheah Cheng Hye and V-Nee Yeh just weeks before a final agreement was expected to be signed, according to one of the people. The Chinese conglomerate’s termination of the negotiations wasn’t related to difficulty obtaining financing, another person said, asking not to be identified because the information is private.
Value Partners, which has a market value of about $1.9 billion, said in a filing Thursday that the two shareholders’ discussions with an unnamed suitor were scrapped due to commercial considerations. Shares of Value Partners, which had rallied since Bloomberg News first reported talks with HNA in May, fell 4.7 percent to HK$8.08 at the close Friday in Hong Kong.
More details in https://www.bloomberg.com/news/articles/...deal-talks
Specuvestor: Asset - Business - Structure.