Xebio Co., Ltd. (TSE:8281) entered into a conditional business transfer agreement to acquire Transview Lifestyle Pte. Ltd. from Transview Holdings Ltd. (SGX:T19) for SGD 1 on December 17, 2013. In related transactions, Xebio entered into conditional business transfer agreements to acquire Transview Golf Sdn and golf business of Transview Golf Sdn and Nippon Golf Pte. Ltd from Transview Holdings. The total consideration for the deals will be SGD 28 million, out of which SGD 2.8 million will be kept in escrow. The deal is subject to regulatory approval, approval by shareholders of Transview Holdings Ltd, approval by Board of Directors and shareholders of Xebio, third party approval, Transview Lifestyle shall have duly obtained and delivered to Xebio written confirmations from existing employees of Transview Lifestyle indicating their willingness to be employed or to remain employed by the Xebio post-Closing, with such number of confirmations to be no less than 95% of the aggregate of the number of employees; consummation of related deals, Transview Golf Sdn Bhd shall have disposed its head office and warehouse to Transview Golf effective on the closing; lease agreements for the lease by Transview Golf Pte Ltd. to Xebio and Transview Golf Sdn Bhd of its head office and warehouse respectively shall have been executed in a manner and substance reasonably satisfactory to Xebio and execution of management agreements. Transview Holdings is expected to realize a gain of SGD 12 million from the disposals. The transaction has been approved by the shareholders of March 18, 2014.

Xebio Co., Ltd. (TSE:8281) completed the acquisition of Transview Lifestyle Pte. Ltd. from Transview Holdings Ltd. (SGX:T19) on March 31, 2014. All conditions precedent for the transaction have been fulfilled.