Value of CPE's Fortel investment up 26%

The value of China Private Equity Investments Holdings' investment in Fortel BVI has increased by 26% to US$23.9m.

CPE said Fortel had secured additional investment from non-related CPE investors of HK$24m.

This investment now valued the Fortel business at US$64.5m and represents a 29% increase in US dollar terms when compared to its last valuation in September 2008 of US$50m at which point CPE invested.

CPE said that following this additional investment, its holding in Fortel had been reduced from 38.0% to 37.1% while the implied value for its Fortel shares had increased by around 26% from US$1m to US$23.9m.

Story provided by Business Financial Newswire.

Resources:
http://cpe-invest.com/doc/IBTimes.pdf