Tembusu Partners fully divests stake in Cherie Hearts Group International Pte Ltd
Tembusu Partners (“Tembusu”) is pleased to announce the divestment of its stake in Cherie Hearts Group International Pte Ltd (“Cherie Hearts” or the “Company”) beginning in September 2010. Tembusu first invested in the Company via a loan with detachable warrants in February 2009, and is exiting its investment in Cherie Hearts through a negotiated management buyout, which will enable Tembusu to achieve an overall investment IRR of approximately 72%.
