Chinese education services provider Minsheng slips, plans M&A fund with CICC Capital

Minsheng Education

02/01/2019 03:12

** Stock of Chinese education services provider Minsheng
Education Group Co Ltd  1569.HK  falls as much as 2.3 pct 
    ** The education firm says it has entered into a strategic
cooperation agreement with CICC Capital Management Co Ltd to set
up a 10 bln yuan ($1.46 bln) fund to focus on education industry
merger and acquisition  urn:newsml:reuters.com:*:nFWN1Z100B
    ** The deal can help enhancing financing capability and
provide capital for long-term development, Minsheng says 
    ** CICC Capital is a wholly owned privately offered fund
management institution of China International Capital Corp Ltd
 3908.HK 
    ** Shares of China International Capital slide up to 1.1 pct
    ** The Hang Seng finance sub-index  .HSNF  drops 2.4 pct,
and heads for the biggest intraday pct decline since Oct 23

    ($1 = 6.8610 Chinese yuan)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)