January 5, 2018 / 1:30 AM / a year ago

Hong Kong asset manager Value Partners ends stake sale talks with HNA - sources

HONG KONG, Jan 5 (Reuters) - Hong Kong-listed asset manager Value Partners Group Ltd has ended talks to sell a stake in the company to Chinese conglomerate HNA Group, said people familiar with the situation.

Value Partners said in an exchange filing late on Thursday two of its main shareholders had ended talks with a “potential offeror” for selling a stake in the company. It did not name the company it was in talks with for the stake sale.

The asset manager said the reason for the termination was “solely a result of the parties’ commercial consideration in respect of the possible transaction”. The company did not elaborate.

People familiar with the matter said that the announcement referred to Value Partners’ talks with HNA for the stake sale.

Value Partners declined to comment beyond the exchange filing when contacted by Reuters, while HNA did not immediately respond to request for comment.

Shares in Value Partners were set to open down 2.5 percent in the Hong Kong trading on Friday. (Reporting by Kane Wu and Jennifer Hughes; Writing by Sumeet Chatterjee; Editing by Neil Fullick)

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