PETALING JAYA: Property developer, Ivory Properties Group Bhd has entered into a share sale agreement for the divestment of its entire 49% stake in Aspen Vision Land Sdn Bhd to Aspen Vision Development Sdn Bhd for RM55mil. AVL is also in the property development business.
The divestment comprises of 1.96 million ordinary shares of RM1 each and 177,380 Redeemable Preference Shares of RM1 each at an issue price of RM100 per RPS.
The original cost of investment in AVL was RM19.7mil, invested between April 2013 and August 2014. - The Star
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