Acquity Group announced that, as indicated in the previous quarterly announcement, it has been exploring strategic options relating to the joint ventures. Since the company's initial public offering in April 2012, Acquity has not made further investments into the joint ventures. As of February 18, shareholders of Digital Li-Ning Company entered into an agreement to terminate the joint venture. The Huaren Kudong joint venture has been a passive investment in which the company did not have management involvement since inception. Acquity has taken steps to explore the delegation of divestment rights to management, with the company retaining a right to the proceeds. Separately, the company has received non-binding indications of interest relating to possible strategic transactions and the board of directors has retained professional advisors to evaluate such indications.
- Mergers, Acquisitions & Takeovers
- joint ventures