The sellers are Chiu Teng Enterprises, Kim Kyoo Chul and Tham Keng Chuen, while the buyer Advansory Investment is solely held by one Liu Lianlian, who has no intention to revise the offer price.
Olive Tree Estates was listed back in 2017 as Changjiang Fertilizer Holdings.
According to a filing put out by Evolve Capital, the financial advisor, Liu plans to maintain the listing status of the company.
She will be undertaking a comprehensive review of the company's businesses to "determine the optimal business strategy".
See also: Grab-GoTo deal hits snag caused by state-backed holder’s stake — Bloomberg
Olive Tree Estates shares last traded at 11 cents. It has gained 60% year to date.
Scroll to continue
