Investment in Liaigre by the Pierre Chen family

RNS Number : 4419R

Symphony International Holdings Ltd

01 March 2019

 

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

1 March 2019

Investment in Liaigre by the Pierre Chen family from Taiwan

Symphony International Holdings Limited ("Symphony", "SIHL" or the "Company") (LSE: SIHL:LN) today is pleased to announce that the Pierre Chen family from Taiwan has become a partner and co-owner of the Liaigre Group ("Liaigre") together with Navis Capital Partners ("Navis"), Symphony and the Liaigre management team.

The Liaigre brand was established in 1985 and has become one of the most sought-after luxury furniture brands,  synonymous with discreet luxury, and renowned for its elegant, minimalistic and luxurious design style. Liaigre has a strong intellectual property portfolio and provides a range of bespoke furniture, lighting, fabric and leather, and accessories. In addition to operating a network of 25 showrooms in 11 countries across Europe, the US and Asia, Liaigre undertakes exclusive interior architecture projects for select yachts, hotels, restaurants and private residences. 

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

"Pierre has been a strong supporter of Liaigre for many years and we are delighted to welcome him and his family to partner with us. The Pierre Chen family share our view on the promising outlook for the Liaigre brand and we look forward to working together to further realise the brand's potential."

Pierre Chen said:

"With its distinctive aesthetic, uncompromising quality and design creativity, we see a strong opportunity to grow Liaigre's existing operations and also develop the brand into new complimentary businesses with the new capital we bring to the business. We look forward to working with our partners on this exciting endeavour."

About the Pierre Chen family, Navis and Symphony:

The Pierre Chen family have interests in a wide range of industries that include lifestyle assets, technology and electronics, and are a significant patron of the arts through the Yageo Foundation. The Pierre Chen family have a strong presence and network in and outside of Asia.

Navis manages approximately US$5 billion in public and private equity capital and focuses on investments primarily in and around Asia. Navis contributes both capital and management expertise to a limited number of well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia and has a long and proven track record in pan-Asian private equity. For more information, please visit www.naviscapital.com.

Symphony is a leading investor in consumer-related businesses, primarily in the healthcare, hospitality and lifestyle sectors in Asia. Symphony also invests in education and selected branded real estate developments. For more information, please visit www.symphonyasia.com.

For further information, please contact:

For further information:

Symphony Asia Holdings Pte. Ltd.:     

Anil Thadani                                             [phone]

Numis Securities Limited:

Hugh Jonathan                                              [phone]

Nathan Brown

Dealing codes

The ISIN number of the Ordinary Shares is VGG548121059, the SEDOL code is B231M63 and the TIDM is SIHL.

The LEI number of the Company is 254900MQE84GV5DS6F03.

This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States or any other jurisdiction into which the publication or distribution would be unlawful. These materials do not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities in the United States or any other jurisdiction in which such offer or solicitation would be unlawful. The securities referred to in this document have not been and will not be registered under the securities laws of such jurisdictions and may not be sold, resold, taken up, transferred, delivered or distributed, directly or indirectly, within such jurisdictions.

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.

Statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The information contained in this document is subject to change without notice and, except as required by applicable law, neither the Company nor the Investment Manager assumes any responsibility or obligation to update publicly or review any of the forward-looking statements contained herein. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.

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.

 

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