Archive for the ‘BVI Company Investment Sales’ Category

« Older Entries

Aricom purchases two Option Licenses from the BVI Holding Companies

Thursday, March 27th, 2008

The Anglo-Russian developer of mineral resources AM Aricom Plc announced that it has purchased options to buy two further licences that will expand significantly the existing Aricom projects K&S and Garinskoye – the Garinskoye Flanks license and the Kostenginskoye license. Aricom’s unit has already made two cash payments of US$22.5 mln for granting the options.

The Garinskoye Flanks license is owned by a Cypriot company Guiner Enterprises Ltd, which is owned by two British Virgin Islands companies – Myrtle Corp. Ltd and Ardoryna Commercial Ltd. The shareholders of Guiner Enterprises have conditionally agreed to sell their shares in Cypriot company to Aricom.  Aricom’s wholly owned subsidiary Aricom UK Ltd. has signed option agreements to acquire the indirect holders of the two licenses. Both assets are US$80 mln, comprising US$40 mln for each asset.

The Garinskoye Flanks deposit covers an area of 3,530 km surrounding Aricom’s currently owned Garinskoye license, and is estimated to contain nearly 1 billion tonnes of reserves and resources. The area of the Kostenginskoye iron ore deposit is about 24 km.

Posted in Agreements and Contracts concluded, BVI Company Investment Sales, BVI Holding Companies | No Comments »

BVI-formed Greenford Trading makes licensing deal with Genesis Worldwide

Thursday, January 31st, 2008

Greenford Trading, a newly-incorporated British Virgin Islands company belonging to the Russian investment and development company ArianaInterProject, has concluded a deal with Genesis Worldwide Inc.

According to the deal, Genesis Worldwide received license to build three light steel panel manufacturing plants in Russia over the next two-and-a-half years. Genesis said it will produce steel paneled structures using the Genesis Solution, which includes leading-edge software, industrial equipment, hardware, processes and engineering services.

The initial revenue of Genesis Worldwide will be 4 million USD from licensing its technology, the sale of industrial equipment and hardware, various training and consulting services required for the commissioning of the first plant. The licensed company will earn similar revenue from the commissioning of each of the two additional plants, which are projected to be commissioned by July 1, 2009, and July 1, 2010, with the revenue recognized at such time. Also, over the next five years, Genesis will earn minimum of 4.1 mln USD in royalty fees.

Posted in BVI Company Investment Sales, BVI IBC Business News | No Comments »

Malaysian Ernslaw One to purchase BVI- and Hong Kong-controlled Winstone Pulp

Wednesday, December 19th, 2007

Malaysian company Ernslaw One is buying the New Zealand forestry company Winstone Pulp International, for an undisclosed amount of money. The deal is subject to Overseas Investment Office approval.

At present, Winstone is controlled by offshore companies, registered in Hong Kong and the British Virgin Islands. The company owns about 16,500 hectares of forest in the central North Island, a sawmill at Tangiwai and a pulp mill nearby at Karioi, and employs about 300 staff. By the fiscal results at September 30, 2006, company’s forest crop was valued at US$83 mln, and its fixed assets were evaluated at US$38.7 mln. For the same period, company had revenue of US$131 mln, but made a US$10.1 mln loss.

The purchase took forestry plantation of Ernslaw One to 100,000 hectares, making it the fourth largest forest owner in New Zealand. As at June 30, Ernslaw One’s forest estate was valued at US$254 mln.

Managing director of the BVI- and Hong Kong-controlled company David Anderson said the sale would not affect staff levels.

Posted in BVI Company & Subsidiary Financials, BVI Company Investment Sales, BVI Holding Companies | No Comments »

Malaysian businessman sells 60m shares of his BVI-based property company

Saturday, October 27th, 2007

Malaysian businessman Datuk Ishak Ismail has exited the property holding company Land & General Berhad (L&G), after British Virgin Islands-registered Unioncity Enterprises Ltd., associated with him, disposed of 60.64 million shares. Following the sale that took place on September 30, 2007, the BVI company reduced its stake to 23.68 million shares.

Unioncity Enterprises became a substantial shareholder of L&G in May 2007, after it acquired a 6.35% stake; on August 2007, it raised it to 84.31 million, or 14.09%, and became the single largest shareholder of the company. BVI company’s interests in L&G rose after Hong Kong-based property tycoon emerged as a substantial shareholder in the former, after he acquired an 8.35% stake through the company Mayland Parkview. In October, its stake has increased to 11.03%, and made 66 million shares.

There was a talk that Mayland Parkview and BVI-registered Unioncity could compete for control over the company.

Posted in BVI Company Investment Sales, BVI company investments | No Comments »

« Older Entries