200 million participation fund for Education and merger

⊙ reporter Zhu Fangzhou 0 editor Ranchi since July 5 suspended the planning of major issues of the full pass education today announcement, decided to terminate the planning of equity acquisition matters, at the same time for the effective use of external professional resources, speed up the promotion of corporate mergers and acquisitions, the company intends to work with the Beijing Prosperity King Investment Management Co. Jointly initiated the establishment of the Shengjing Education Industry Acquisition Fund (Limited partnership). The announcement showed that the fund's size is 1 billion yuan, of which the company's own funds to invest 200 million yuan, the remaining 800 million yuan by Shengjing is responsible for raising. The total duration of cooperation for 10, a single item from the time of the input to the withdrawal does not exceed 5 years. The fund will revolve around the development strategy of the education and related industries, the target enterprises or assets as the main investment direction, with the company mergers and acquisitions and industrial integration, improve the company's industrial layout, enhance the company's comprehensive competitive strength. It is understood that Shengjing was founded by senior people in the financial industry, to PE, mergers and acquisitions and as the core business of asset management agencies, currently entrusted with the management of assets of more than 20 billion yuan. In recent years, Shengjing actively participated in assisting enterprises in industrial integration, has set up a large number of large-scale industrial mergers and acquisitions fund, the industry is distributed in the pharmaceutical, environmental protection, TMT and energy sectors, with a wealth of equity investment, asset management and industrial mergers and Acquisitions fund operation experience. Full-pass education says that the establishment of the education industry mergers and Acquisitions fund, on the one hand, can make full use of the fund management team professional investment experience and perfect risk control system, improve the acquisition of the subject matter and merger prospects analysis of professionalism, improve the scientific decision-making; On the other hand, the acquisition fund through equity, mergers, incubation, cultivation For the whole-pass education reserve Acquisition Project Pool, reduce the merger risk of listed companies, finally realize the company's quality resources integration. It is worth mentioning that during the suspension period, the company's simultaneous acquisition of shares, but the transaction with the other party in the specific terms of the transaction failed to reach an agreement and forced to terminate. Full-time education on January 21 this year just landed on the gem, after a row of higher prices, the market has risen more than 120%. According to the 2014.5 annual performance forecast of the full-pass education, the company expects to achieve a net profit of 25.64 million yuan to 30.77 million yuan, which is attributable to the shareholders of the listed company, from 0% to 20% in the same period last year.