Xebio Co., Ltd. (TSE:8281) entered into a conditional business transfer agreement to acquire Nippon Golf Pte Ltd from Transview Holdings Ltd. (SGX:T19) for SGD 0.5 million on December 17, 2013. In related transactions, Xebio agreed to acquire Transview Golf Sdn, golf business of Transview Golf Sdn and Transview Lifestyle Pte. Ltd. from Transview Holdings. The total consideration for all the transactions is SGD 28 million. As per the deal, SGD 2.8 million of the total consideration will be kept in escrow. Upon closing the consideration except the escrow amount will be paid. The deal is subject to regulatory approval, shareholder approvals of Transview Holdings, Xebio and Nippon Golf, approval of Board of Directors of Xebio, employment agreements, and third party approvals. As on March 18, 2014, the shareholders of Transview Holdings approved the transaction.

Xebio Co., Ltd. (TSE:8281) completed the acquisition of Nippon Golf Pte Ltd from Transview Holdings Ltd. (SGX:T19) on March 31, 2014.