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港通控股(00032)附属拟3871.77万美元出售5家合伙企业权益

Cross-Har (hold) (00032) subsidiary plans to sell equity interests of 5 affiliated partnership enterprises for 38.7177 million US dollars.

Zhitong Finance ·  Jun 25 11:00

Cross-Har (Hold) (00032) announced that on June 24, 2024, the seller (MWH and PCL, both ...

According to the agreement, based on the merger calculation basis, PCL has agreed to sell, and the relevant Pathway entity has agreed to purchase all rights, property rights and interests of PCL in Joint Enterprise 1 (Clearlake Capital Partners VII (Offshore), L.P.), Joint Enterprise 2 (Genstar Capital Partners X, L.P.) and Joint Enterprise 3 (Genstar X Opportunities Fund I, L.P.); and MWH has agreed to sell, and the relevant Pathway entity has agreed to purchase all rights, property rights and interests of MWH in Joint Enterprise 4 (Icon Partners V C, L.P.) and Joint Enterprise 5 (Insight Partners (Cayman) XII Buyout Annex Fund, L.P.).

In line with its investment objectives for its financial management business, the Company regularly evaluates the possibility of making appropriate adjustments to its investment holdings, with a view to providing stable risk-adjusted returns for its shareholders. After evaluating the overall risks, potential returns, and risk profiles of the Company's existing portfolio of non-public funds; potential future investment opportunities; and opportunities to realize the majority of the value of the Group's investments in joint ventures by exiting early, the directors believe that the disposal is an opportunity for the Group to realize its investments and enhance its cash position. The cash inflow generated by the disposal will provide the Company with financial flexibility and resources to consider and explore other investment opportunities that may arise in the future.

Consistent with its investment objectives for its financial management business, the Company regularly evaluates the potential for appropriate adjustments to its investment holdings with a view to providing stable, risk-adjusted returns for shareholders. Given the following factors that have been evaluated: the overall risk, potential return, and risk profile of its non-public fund's existing investment portfolio; potential future investing opportunities; and the possibility of gaining the lion's share of value from the Group's investment by early withdrawal, the Board considered the disposal as an opportunity for the Group to liquidate its investments and enhance its cash position. The cash inflow generated by the disposal will provide financial flexibility and resources to explore other future investment opportunities.

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