Investment in an Education Joint Venture

RNS Number : 4836U

Symphony International Holdings Ltd

19 January 2017

 

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")

19 January 2017

Investment in an Education Joint Venture

Symphony International Holdings Limited (LSE: SIHL), a leading investor in consumer-related businesses, primarily in the healthcare, hospitality, lifestyle, and lifestyle/real estate sectors is pleased to announce today that it has entered into a joint venture, WCIB International Co., Ltd. ("WCIB"), with established Thai partners, that will build and operate Wellington College International Bangkok, the fifth international addition to the Wellington College family of schools. Wellington College International Bangkok will be a co-educational school that will cater to over 1,500 students between the ages 2 to 18 years when fully completed.

WCIB has partnered with Wellington College International Limited ("WCIL") to bring the best education based on the same ethos and identity that characterises a Wellington education in the United Kingdom. WCIB has an option to further develop additional schools under the Wellington College family in Myanmar, Cambodia, Laos and Vietnam.

Wellington College is located in Crowthrone, Berkshire and was founded by Queen Victoria in 1859 and is one of the most respected schools in the United Kingdom. Wellington College is a pioneer in transforming education for young girls and boys. It is a vibrant and popular co-educational school where girls and boys learn to be leaders for life. Wellington College has been committed to providing the highest possible standards of education for young people for over 150 years. WCIB will provide the same high standards of education as Wellington College.  

WCIB has acquired an approximate eight-hectare site in close proximity to central Bangkok from Minuet Limited, a joint venture between Symphony and an established Thai partner, for the development of Wellington College International Bangkok. The land sale provided the initial funding requirement for Symphony's interest in the venture. WCIB also has an option to acquire a further three hectares of land from Minuet Limited through 31 December 2018.

Anil Thadani, Chairman of Symphony Asia Holdings Pte. Ltd. and a Director of Symphony, said:

"We are very excited with this opportunity to enter the education sector with one of the world's leading British independent schools, Wellington College. It fits perfectly with our strategy to invest in businesses that that cater to rising affluence in Asia. We see considerable opportunity and look forward to developing the Wellington footprint in the region."

For further information:

Symphony Asia Holdings Pte. Ltd.:     

Anil Thadani                                       [phone]

Numis Securities Limited:

Hugh Jonathan                          [phone]

Nathan Brown                                   

About Symphony

Symphony is a London listed strategic investment company that invests in consumer businesses, which are principally in Asia. It offers a way for investors to gain exposure to the rising disposable incomes and wealth in fast growing economies. 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 Private Limited, 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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