Xebio Co., Ltd. completed the acquisition of Transview Golf Sdn Bhd from Transview Golf Pte Ltd.
March 31, 2014 at 12:00 am EDT
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Xebio Co., Ltd. (TSE:8281) entered into a conditional business transfer agreement to acquire Transview Golf Sdn Bhd from Transview Golf Pte Ltd. for SGD 6.5 million on December 17, 2013. In a related transaction, Xebio Co., Ltd. entered into a conditional business transfer agreement to acquire golf business from Transview Golf Pte Ltd. for SGD 20.9 million, Transview Lifestyle Pte. Ltd. from Transview Holdings Ltd. for SGD 1 and Nippon Golf Pte Ltd from Transview Holdings Ltd. (SGX:T19) for SGD 0.5 million. The total consideration for the deals will be SGD 28 million, out of which SGD 2.8 million will be kept in escrow. Post transaction, Transview will be removed from the name of the Transview Golf Sdn Bhd.
The deal is subject to regulatory approval, approval by shareholders of Transview Golf and Transview Holdings Ltd, approval by Board of Directors and shareholders of Xebio, third party approval, Transview shall have duly obtained and delivered to Xebio written confirmations addressed to Transview Golf from existing employees of Transview Golf 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 agreement. Transview Holdings is expected to realize a gain of SGD 12 million from the disposals. As on March 18, 2014, the shareholders of Transview Holdings Limited approved the transaction.
Xebio Co., Ltd. (TSE:8281) completed the acquisition of Transview Golf Sdn Bhd from Transview Golf Pte Ltd. on March 31, 2014. As on March 31, 2014, all the conditions to the deal have been fulfilled.
XEBIO holding Co., Ltd., formerly XEBIO CO., LTD., is a Japan-based company mainly engaged in general retail business centered on sporting goods, utensils and clothing. It is also engaged in sports marketing business, product development business, credit card business and Website operation business. The sports business division operates sports specialty shops and golf specialty shop business, as well as casual clothing business. The fashion apparel division includes next business and X'tyle business. The Others operate sports glasses and sunglasses specialty stores and sports drug specialty shops. The company is also engaged in other businesses, such as marketing agent business, overseas contact service, research and development business, group corporate contract business.
XEBIO HOLDINGS CO., LTD. 
