Sakae’s corporate advisory unit has acquired a stake in a Hong Kong firm and Oxley has formed a joint venture company in Cyprus.
Sakae unit acquires stake in BIH
Sakae Holdings’ corporate advisory division has acquired a 20 per cent stake in Bio Innovation Holistic (BIH), a Hong Kong-based firm incorporated in 2015 that is engaged in the business of beauty products and equipment trading.
According to a filing, it has a paid-up capital of HK$10,000 ($1,819) comprising 10,000 shares, with Sakae Corporate Advisory purchasing 2000 shares in BIH for HK$1 each from vendor Jang Jee Young.
Prior to the acquisition, BIHs’ shareholders were Jang and Lee Jang Ho, who held 65 per cent and 35 per cent respectively in BIH.
The consideration was arrived at after negotiations on a willing-buyer, willing-seller basis, taking into account that Sakae Corporate Advisory is assisting BIH with business restructuring as part of the acquisition process.
Oxley forms Cyprus JV
Oxley Holdings says wholly-owned subsidiary, Oxley Holdings (Cyprus), and Planetvision Properties (CY) have established a 50:50 joint venture (JV) company, Oxley Planetvision Properties.
The JVC has an initial issued and paid-up capital of EUR10,000 comprising 10,000 shares and was funded by internal resources.
Based in Cyprus, it will undertake property development in the island. Planetvision is a part of the “Kyprosat” conglomerate and specialises in structuring, assessing, promoting and implementing large-scale property projects in the Mediterranean island.