& Haitong SPC to invest in tourism projects

& Haitong SPC to invest in tourism projects

TravelWireNews update:

 

[ET Net News Agency, 20 April 2017] Orient Victory China (00265) said it entered into anon-legally binding term sheet with Haitong International Investment Fund SPC in relationto the possible cooperation where both parties will invest a total of not more than aboutUS$50 million (equivalent to about HK$390 million).The parties intend to cooperate with each other, where Haitong SPC would subscribe forthe preferred shares of a limited company to be set up by Orient Victory. The possiblecooperation is for the purpose of investing in various investment projects in the tourismindustry including acquisition of resort hotel overseas.The principal activity of Haitong SPC is to invest in diversified portfolios. HaitongSPC is managed by Harveston Asset Management Pte. Ltd., a company incorporated withlimited liability in Singapore. (HL)(c) 2017 ET Net Limited. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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