Oxley Holdings Limited

THE group's 50 per cent-owned joint venture company, Oxley Planetvision Properties Ltd, has entered into a sale and purchase agreement to acquire the entire issued share capital each of Flitous Properties Limited and Jemina Properties Limited from Bank of Cyprus Public Company Limited.

The total consideration for the proposed acquisition is 28 million euros (S$41.7 million), of which 2.8 million euros has been paid to the Bank of Cyprus upon the signing of the agreement. Oxley Holdings said the balance amount will be paid on completion of the deal, which is to take place by April 15.