Asia Standard International Group's Unit to Dispose Entire Stake in SPV for Over $21 Million
Asia Standard International Group's subsidiary, Miracle Point Ventures, will sell its entire stake of 932,613 A shares in Z Babylon AS Investments for $21.4 million. This represents 98.2% of the target's total issued share capital, which is a special-purpose vehicle holding 100% equity in Amer Sports. Post-sale, the company will have no interest in the target, and proceeds will be used for general working capital.
Asia Standard International Group's subsidiary, Miracle Point Ventures, agreed to dispose of 932,613 A shares in Z Babylon AS Investments to two parties for $21.4 million, a joint bourse filing with Asia Orient Holdings said on Monday.
The target is a special-purpose vehicle and solely holds 100% equity interest in Amer Sports. The to-be-sold shares represent 98.2% of the total issued share capital of the target.
After the completion, the company will cease to have any interest in the target company.
The proceeds from the disposal are intended for the general working capital of the company and Asia Orient Holdings.
