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")
22 March 2019
Entry into Structured Transaction
Symphony International Holdings Limited (LSE: SIHL) is pleased to announce today that it has, through a wholly owned subsidiary, entered into a structured transaction to provide funds to Su Misura Pte Ltd ("SM"), a company owned by the Management of Vietnam based Indo Trans Logistics Corporation ("ITL"). The transaction will provide Symphony with an opportunity to acquire a minority stake in the company at a later date. The transaction represents more than 5% of SIHL's NAV. However, due to competitive reasons, exact pricing information is not being disclosed at this time.
ITL was founded in 2000 as a freight-forwarding company and has since grown to become Vietnam's largest independent integrated logistics company with a network that is spread across Vietnam, Cambodia, Laos, Myanmar, and Thailand. Under the guidance of ITL's CEO Mr. Ben Anh and an impressive management team, ITL has grown to national champion status in Vietnam with over 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:
"We are excited with this opportunity to support Management's acquisition of a larger interest in Vietnam's leading private logistics company, and look forward to being part of ITL's growth as it seeks to further expand in Indochina. It fits well with our strategy to invest in people and businesses that support the growth of industry and commerce in key emerging market countries across Asia. We have looked at several opportunities in Vietnam over the years but none have provided a better opportunity to participate in a sector so directly linked to the economic growth of the country. Symphony looks forward to working with Management to further build ITL into a 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
