Monday, October 10, 2016

Origin Agritech signed agreement to sell its seed production and distribution business

BVI-registered crop seed biotechnological company Origin Agritech Ltd. entered into a definitive agreement for sale of its China-based commercial corn seed production and distribution business to Beijing Shihui Agricultural Development Co, Ltd., an internet enterprise providing agricultural products and technology services to farmers, suppliers and agriculture-related enterprises in China. The business is sold for approximately USD$60 million as part of company management's plan to develop Origin as a global seed germplasm and biotech trait leader. It is considered that the sale of Origin's commercial seed business would strengthen its balance sheet and enable it to focus on biotechnology trait and seed germplasm research.

The transaction is expected to be closed in the first quarter of 2017, and is subject to customary closing conditions and shareholder approval. According to the agreement, the buyer of BVI company's business will enter into separate license agreements, to pay a royalty stream for the present and future product portfolio, and a technology access fee for the research and development.

By words of Origin CEO Bill Niebur, through this transaction and the development of North American non-GM business, the company is setting the stage for compelling growth opportunities.

Saturday, October 1, 2016

BVI company investing in Cadillac Ventures Inc., private placement announced

Cadillac Ventures Inc. has announced a proposed investment of US$900,000 through a non-brokered private placement, from three independent investors to acquire 18 million units at US$0.05 each, with each unit consisting of one common share and one warrant exercisable at US$0.05 to acquire one common share for a period of 24 months. After the issuance of the units the company will have a total of 52,669,881 common shares.

One of the new investors is British Virgin Islands-incorporated Best Path Developments Limited which will hold 7,571,364 common shares making 14.375%. If the unit warrants were exercised it could control 25.1% of Cadillac. The BVI company is controlled by Mr. Youliang Wang who is to be appointed as Chairman of Cadillac and a member of its Board of Directors. The other two purchasers acquire 9.9% of Cadillac, so the exercised warrants will be over 10%.

The private placement is planned to close on October 3, 2016. A four month hold period will apply to the issued securities. The proceeds from the private placement will be used for general working capital.

Saturday, September 24, 2016

MIE Maple Investments announced acquisition of Journey Energy shares

MIE Maple Investments Limited, incorporated under the law of the British Virgin Islands and headquartered in Hong Kong, announced the acquisition of 16,355,798 common shares and restricted voting shares in the capital of Journey Energy Inc, pursuant to the share purchase agreement signed at September 15, 2016. The shares were purchased from Infra-PSP Partners Inc. for total consideration of US$33,846,602 (approximately US$2.069 per share).

Acquisition is expected to close on or before September 30, 2016, and upon this moment the BVI company will get ownership of 37.5 per cent of the issued and oustanding shares of Journey Energy. MIE did non hold any shares before the acquisition.

The BVI company acquires shares for investment purposes. It may buy additional shares either on the open market or through private acquisitions, or sell them privately or on the open market.

MIE Maple Investments is a wholly owned subsidiary of MIE Holdings Corporation, which is an independent oil and gas company working in China, Kazakhstan and the US.

Friday, September 16, 2016

BVI start-up company announced acquisition of Swedish software provider

BVI-incorporated Luxoft Holding, Inc., providing software development services and IT solutions, has announced the acquisition of Pelagicore AB, a Swedish company providing open source software platforms and services for in-vehicle infotainment systems. Pelagicor has strong relationships with premium automotive OEMs, Tier-1s and silicon vendors. It is a co-founder of automotive specific Qt Automotive Suite, and its approach to system design is highly complementary to Luxoft's business model.

According to Luxoft Automotive Managing Director Georg Doll, this is a strategic acquisition for Luxoft, strengthening company's leadership in providing for IVI and HMI development needs for global automotive and Tier-1 manufacturers.

By words of Pelagicore CEO Alwin Bakkenes, company's clients are also to benefit from Luxoft's complementary expertise in design, instrument cluster, advanced driver assistance systems and autonomous driving, connectivity, and navigation technologies.

Friday, July 29, 2016

Northwestern Enterprises acquires shares of Rio Novo Gold Inc.

BVI company Northwestern Enterprises Ltd entered into binding agreements with two separate sellers, for the acquisition of ownership of an aggregate of 95,480,414 ordinary shares of Rio Novo Gold Inc., in private transactions at a price of US$0.092 per share. The shares will be purchased on or before August 22, 2016, subject to customary closing conditions. The purchased shares represent approximately 63.03% of the issued and outstanding ordinary shares of the company.

Concurrently with the completion of this transaction, BVI company's owner plans to cause 3,557,000 ordinary shares to be transferred from Sercor Ltd to Northwestern (both companies controlled by the same person). This amount represents approximately 2.35% of the issued and outstanding ordinary shares.

After the acquisition and the transfer, Northwestern Enterprises will hold 99,037,414 ordinary shares representing approximately 65.4% of the issued and outstanding ordinary shares of Rio Novo.

Wednesday, July 20, 2016

Polo Resources announced new share issue

Polo Resources Limited, the natural resources investment company having interests in oil, coal and metals, has issued 9,832,358 new ordinary shares as consideration for the transaction with Blackham Resources announced in June.

The application has been made for the consideration shares to be admitted to trading on AIM on 25 July 2016. The enlarged issued share capital of the BVI company will amount to 311,789,151 ordinary shares of no par value each, with one vote per share.

Monday, July 4, 2016

BVI group completed acquisition of Finance Bank Zambia Limited

BVI-domiciled financial services group Atlas Mara Limited has completed the acquisition of 100 per cent of Finance Bank Zambia Limited and its subsidiaries, for consideration of approximately US$61 million in cash and 3.3 mln of BVI group's shares, not including deferred contingent consideration of up to 1.3 million Atlas Mara shares. Finance Bank Zambia Limited will be combined with African Banking Corporation Zambia Limited, which is a Zambian subsidiary of Atlas Mara Limited. The merged bank, with combined assets of approximately US$567 million as at December 31, 2015, will be one of the largest banks in terms of branch footprint in Zambia. Its physical presence will increase from 23 to 65 branches, 176 ATMs and 23 agencies.

CEO of the BVI financial group said in his comments: "The acquisition of FBZ is another important step in the execution of Atlas Mara's strategy to build sub-Saharan Africa's premier financial institution, in part, by becoming a scale participant in our countries of operation, which this transaction will achieve for us in Zambia..."

Tuesday, June 14, 2016

BVI company to increase its stake in Blackham Resources

Polo Resources Limited, the natural resources investment company registered in the British Virgin Islands, has informed of its intention to exercise its right to purchase further 49 per cent of Perfectus Management Ltd for A$3.0mln, to be satisfied by the issue of 9,832,358 new ordinary shares of Polo Resources, at a price of £0.15 per share.

As at 24 May 2016, Perfectus had unaudited net assets of US$4.68 million (approximately £3.24 million or A$6.35 million). Perfectus owns 5,888,495 ordinary shares in Blackham Resources Limited issued fully paid ordinary share capital. Polo directly holds a further 14,761,905 (5.83 per cent) of Blackham ordinary shares.

Sunday, May 22, 2016

Talon Metals sold all its shares in Tlou Energy

Talon Metals Corp., a TSX-listed exploration and development company domiciled in the British Virgin Islands, has made an announcement that it has sold all of its shares in Tlou Energy Limited, for gross proceeds of approximately C$600,000.

Sean Werger, the president of Talon Metals, said in his comments on the transaction: "We are pleased that we have been able to increase our treasury through the sale of our shares in Tlou Energy ... The Company's sole focus is working with Kennecott Exploration Company to move the Tamarack Project towards becoming a tier 1 project. Going forward, we will continue to opportunistically seek ways to divest of our remaining non-core assets, and increase our cash position."

Monday, May 9, 2016

Canadian retailer acquires majority shares in BVI-operating Roadtown Wholesale Trading Ltd

The North West Company Inc., which is a Canada-based retailer of food and everyday products and services to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific and the Caribbean countries, entered into letters of intent to purchase the majority of shares of Roadtown Wholesale Trading Ltd., operating as Riteway Food Markets in the British Virgin Islands. Riteway is a privately held company with seven retail outlets, one Cash&Carry, and one wholesale operation serving the British Virgin Islands. The proposed transaction is subject to a definitive purchase agreement and government approvals.

The Canadian company will continue to operate the business under the trade names Riteway Food Markets and Roadtown Wholesale Trading. Certain Riteway shareholders will continue company’s ownership and will be represented on its Board of Directors. Also, the BVI company will become an administration headquarters for North West’s stores across the Caribbean territory.

Thursday, April 28, 2016

BVI company entered into Option Agreement with Voyage Wisdom Limited

BVI-incorporated company Novel Sunrise Investments Limited, which is the largest shareholder of SouthGobi Resources Ltd., entered into an Option Agreement with the private company Voyage Wisdom Limited. Under the terms of the agreement signed on April 15, 2016, the BVI company granted Voyage Wisdom an option to purchase, and Voyage Wisdom granted Novel Sunrise an option to sell 25,768,162 common shares of SouthGobi Resources, for a total price of US$24,000,000, or US$0.93138 per share, to be paid in cash. The option shares represent 10 per cent of the total number of common shares of SouthGobi, issued and outstanding.

Both options may be exercised by the companies in whole but not in part, at any time prior to April 21, 2016 or later as the parties may agree, but no later than October 21, 2016.

Currently, Novel Sunrise owns and controls 72,127,140 common shares of SouthGobi (including the above 10%), which represent 27.99 per cent of the total number of common shares of the company.

Wednesday, April 20, 2016

Mecox’s shareholders approved merger agreement with BVI and CI companies

Mecox Lane Limited, the multi-brand and multi-channel retailer of health, beauty and lifestyle products in China, announced that its shareholders approved the proposal to authorize the agreement and merger with the BVI business company Minat Associated Co., Ltd., and ChinaEquity Alliance Victory Co., Ltd., an exempted company based in the Cayman Islands and wholly owned by the BVI company.

The agreement, pursuant to which the CI company will be merged with Mecox Lane, and the Chinese company will continue as the surviving company and become a wholly owned subsidiary of Minat Associated.

Approximately 75.99 per cent of the company’s total outstanding shares voted at an extraordinary general meeting on April 12, 2016; of them, approximately 99.84 per cent were voted in favor of the merger agreement and the plan of merger.

Thursday, April 14, 2016

Agria Corporation announced withdrawal of acquisition proposal

Agria Corporation, which on January 28, 2016 received a preliminary non-binding take-private proposal letter from its executive chairman Mr. Guanglin Lai, and BVI-incorporated Brother Capital Limited, to acquire all of Agria’s outstanding ordinary shares, announced that its board of directors received a notice from Mr. Guanglin Lai and the BVI company, to withdraw the proposal.

Agria Corporation is a global agricultural company working within three main segments, including Seed and Grain; Crop Protection, Nutrients and Merchandise; and Rural Services.

Sunday, April 3, 2016

Acquisition of UTi Worldwide: major customers stay with the group

According to the Bloomberg agency, acquisition of the BVI company UTi Worldwide Inc. by DSV A/S, worth US$1.35 billion, which was announced in October and completed in the beginning of 2016, has become successful, as far as 100 major clients of the purchased company committed to the combined group. By words of SEB analyst Lars Heindorff, it is very important for DSV, as their strategy is to keep the front office operations unchanged to limit the loss of customers.

DSV CEO Jens Bjoern Andersen said that feedback from UTi’s biggest customers “has been very good, but we also know that they expect us to deliver. We have met with them to present our case and told them, in all modesty, that we believe the new combined company will be able to provide them with a better service.”

DSV has become the world’s fourth-largest freight forwarder, after buying more than 30 companies, and UTi was the biggest transaction since DSV took over ABX Logistics Worldwide SA in 2008, for US$850 million. Danish company expects the deal to yield synergies of US$230 million within 3 years, integration costs will be the same.