Chinese fund Shanghai Jinxin Investment Advisory Partnership Company has acquired a 65 percent stake in international media rights company MP & Silva. The investment fund includes partners such as Beijing Boafeng Technology Co. and Everbright.

The firm did not disclose the financial terms and conditions of the deal. However, several reports have indicated that the valuation is close to $1 billion. MP & Silva deals in international sports rights in fields such as tennis and soccer. It maintains offices in 20 different locations. In a joint statement, the fund said, "The new partners will bring expertise and experience that will help facilitate the development of the group internationally, particularly in the rapidly growing and increasing important Chinese market."

Like Us on Facebook

The deal will help MP & Silva to access cutting edge technologies such as virtual reality and internet based services. Under the new strategic partnership, MP & Silva and Baofeng will collaborate on various fronts including sports media rights management, consulting services and sponsorships.

In a statement, Everbright chief executive Xue Feng said, "China has the most sports fans in the world, and the sports market here is now one of the hottest investment sectors." MPS chief executive Marco Auletta said that the deal will help the sports rights management company in extending its global presence, especially in China.

The main players of the deal, Baofeng is listed in Mainland China while Everbright is listed in Hong Kong. Baofeng is counted among the fastest growing companies in the region. It specializes in virtual reality and digital entertainment. Everbright is a diversified financial services group.

TagsMP & Silva, baofeng, Everbright