Symphony International Holdings Ltd Acquisition of Interest in Indo Trans Logistics (6660E)
July 08 2019 - 2:00AM
UK Regulatory
TIDMSIHL
RNS Number : 6660E
Symphony International Holdings Ltd
08 July 2019
Not for distribution, directly or indirectly, in or into the
United States or any jurisdiction in which such distribution would
be unlawful.
Symphony International Holdings Limited ("Symphony")
8 July 2019
Acquisition of Interest in Indo Trans Logistics Corporation
Further to the announcement on 22 March 2019 wherein Symphony
International Holdings Limited (LSE: SIHL) announced the entry into
a structured transaction, SIHL is pleased to announce today that it
has, through a wholly-owned subsidiary, acquired a significant
minority stake in Vietnam-based Indo Trans Logistics Corporation
("ITL"). The transaction consideration is approximately $42.6
million.
ITL, founded in 2000 as a freight-forwarding company, has since
grown to become one of Vietnam's "national champions" and is the
largest independent integrated logistics company with a network
spread throughout Vietnam, Cambodia, Laos, Myanmar, and Thailand
with more than 2,000 employees across its business units and joint
ventures.
Anil Thadani, Chairman of Symphony Asia Holdings Pte. Ltd. and a
Director of Symphony, said:
"The opportunity to acquire this interest in Vietnam's leading
integrated logistics company is a good example of our practice of
sourcing proprietary opportunities through our own network of
business & personal contacts built over 35 years of Private
Equity practice in the region. Over the past 20 years, ITL
management has consistently grown the business to the point where
the company is now among Vietnam's "national champions." We look
forward to working with and supporting Chairman Zulkifli bin
Baharudin and CEO Ben Anh to execute on ITL's strategic plans to
support small and medium enterprises in Vietnam and across the
Indochina region. ITL's strategic mandate fits well with our
strategy to invest in and support businesses that complement &
benefit from the rising affluent and middle-class population in
Asia. We have looked at several opportunities in Vietnam over the
years, and ITL has all the attributes of the kinds of businesses we
like to invest in - a proprietary deal, a strong & proven
management team and a business that is well positioned to directly
benefit from the growth in the region. Symphony looks forward to
working with Management to enhance value creation at ITL and
support its further development as the leading logistics company in
the region."
For further information:
Anil Thadani +65 6536 6177
Symphony Asia Holdings Pte. Ltd.
About Symphony
Symphony is a London listed strategic investment company that
invests in a wide variety of businesses in the healthcare,
hospitality and lifestyle ("HH&L") sectors (including branded
real estate developments), which are principally in Asia. It offers
a way for investors to gain exposure to businesses that benefit
from the rising disposable incomes and wealth creation in the fast
growing economies of Asia. Symphony's objective is to provide
superior capital growth by investing in high quality companies and
forming long-term business partnerships with talented
entrepreneurs. Symphony is managed by Symphony Asia Holdings Pte.
Ltd., which has a team of investment professionals with a broad
range of expertise - many of them have been working in Asia for
more than 25 years. For more information, please visit our website
at www.symphonyasia.com
No representation or warranty is made by the Company as to the
accuracy or completeness of the information contained in this
announcement and no liability will be accepted for any loss arising
from its use.
This announcement is for information purposes only and does not
constitute an invitation or offer to underwrite, subscribe for or
otherwise acquire or dispose of any securities of the Company in
any jurisdiction. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective
investors are advised to seek expert legal, financial, tax and
other professional advice before making any investment
decisions.
This announcement is not an offer of securities for sale into
the United States. The Company's securities have not been, and will
not be, registered under the United States Securities Act of 1933
and may not be offered or sold in the United States absent
registration or an exemption from registration. There will be no
public offer of securities in the United States.
The Company and the Investment Manager are not associated or
affiliated with any other fund managers whose names include
"Symphony", including, without limitation, Symphony Financial
Partners Co., Ltd.
End of Announcement
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END
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