Ledman Optoelectronic Co Ltd, a China’s professional manufacturer in LED industry, announced the company owner Li Man planned to invest up to 25 million euros ($27.39 million) in Infront Sports & Media AG.

Li Man, controlling shareholder of Ledman, would make equity investment personally across a Hong-Kong-based holding company of him, according to Ledman’s announcement.

The investment into Infront, acquired by Wanda Group earlier this year, aims at full participation in sports market globally and closer cooperation with international sports organizations, providing experience for Ledman’s newly opened football-related media sector and for the company’s ambitious strategy to explore the sports industry.

But Ledman, as a brand, will not participate in the equity investment in consideration of keeping business secret and avoiding potential risks in finance, taxation and lawsuits when setting up overseas investment.

Ledman Optoelectronic has been committed to the development of Chinese football industry since 2011 and has become a strategic partner of Chinese Football Association since then.

Source: Oriental Morning Post, Reuters