Hong Kong-based Value Partners and Indonesia’s Aldiracita Group have formed a strategic partnership which includes the cross-holdings of shares.
Value Partners and Aldiracita Group have formed a strategic partnership, according to a statement. Aimed at cross-border collaboration, the tie-up will expand the product offering in the Indonesian market across asset classes.
Under this partnership, Value Partners subsidiary Sensible Asset Management will acquire a 29.99 percent in Aldiracita’s STAR Asset Management. And in Singapore, Aldiracita Global Investment will also acquire a 29.99 percent stake in Value Partners Asset Management Singapore. Both deals await permission from their respective regulators.
Hong Kong Delegation
The share purchase agreements were signed on July 26 and an exchange file ceremony was held during a business luncheon attended by Hong Kong chief executive John Lee, who led a high level delegation from the city to visit ASEAN countries. Value Partners chairman Cheah Cheng Hye was also part of the delegation from Hong Kong.
«ASEAN countries are Hong Kong’s second largest trading partners with significant economic and investment potential. In particular, Indonesia, with its large population, represents a significant portion of the region’s potential for growth and investment,» Cheah said.
Established in 1993, Value Partners is an Asia-focused value investor and as of June 30, it had $6 billion in assets under management. Aldiracita is a securities company established in 1990 that provides a wide range of financial services, including equity and debt capital markets, merger & acquisition advisory, investment management and mutual funds.
