Oxley to acquire Cambodian asset for US$11.2m
In a release, Oxley Holdings Limited announced that the Group’s 49%-owned associated company, Oxley-Worldbridge (Cambodia) Co., Ltd., had entered into an amendment agreement dated 1 July 2013 in respect of a share sale and purchase agreement dated 22 May 2013 to acquire all the shares in the capital of CityStar Phnom Penh Cottages Ltd, from three unrelated third parties, for an aggregate purchase consideration of US$11,262,500. CPPC is a company incorporated under the laws of the Kingdom of Cambodia with an issued capital of 4,000,000 KHR (approximately SGD1,246) comprising 1,000 shares. … The Land has a freehold tenure and total area of approximately 6,625 square metres. It is zoned for commercial and residential development. …
