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Blown British Media Deal Still Weighing Down Everbright Securities

2019年08月29日 21:14 来源于 财新网
Brokerage sets aside additional $41 million for liabilities from bungled acquisition, but profit bounces back
Everbright has booked 1.52 billion yuan in provisions for contingent liabilities and impairment losses related to the bungled deal for MP & Silva Holding. Photo: IC Photo

A failed British sports media deal is still weighing on Everbright Securities Co. Ltd. although the state-owned brokerage’s profits bounced back in the first half of 2019.

On Tuesday, Everbright reported another 300 million yuan ($41.9 million) of provisions for estimated liabilities in the first half year due to its involvement, via a subsidiary, in a consortium that in 2016 purchased a 65% stake in defunct London-based MP & Silva Holding (MPS) for 5.2 billion yuan. Everbright booked a 1.52 billion yuan in provisions for contingent liabilities and impairment losses related to the deal in 2018.

版面编辑:喻竹杨洋

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