SG briefs: Grand Venture Technology, Advancer Global, Tee International

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Singapore company briefs: Grand Venture Technology, Advancer Global and Tee International.

Grand Venture Technology

Grand Venture Technology said Wednesday it has completed the acquisition of J-Dragon Tech (Suzhou) for S$10.98 million in cash and shares, and the acquisition of Formach Asia. The company paid S$7.02 million in cash and shares for Formach Asia, with the remaining cash consideration of S$780,000 to be paid later, Grand Venture Technology said in a filing to SGX.

The new shares are expected to begin trade on Thursday, taking the total number of shares to around 339.25 million from 331.51 million previously, the filing said.

Read more: Grand Venture Technology to acquire J-Dragon and Formach for S$20M

Advancer Global

Advancer Global‘s wholly owned subsidiary Advancer Global Facility and a third-party financial investor have made a letter of indicative offer to acquire Tee Infrastructure’s entire stake in G3 Environmental  for S$5.5 million, according to a filing to SGX Wednesday. Currently, AGF holds 20.1 percent of G3, while the investor holds 29.8 percent and Tee Infrastructure holds the remaining 50.1 percent, the filing said.

“Should Tee Infrastructure accept the offer letter for the proposed acquisition, the parties will enter into further definitive agreements in respect of the proposed acquisition,” Advancer Global said.

Tee Infrastructure is wholly owned by Tee International.