- PHI Group or Philux Global Group has signed an agreement to acquire 51% of Vietnam-based Van Phat Dat Export Joint Stock Company.
- PHIL subsidiary Philux Global Trade will purchase 5.1M of the shares of Van Phat Dat for a total of $6.13M.
- The proceeds will be paid by a convertible promissory note issued by Philux Global Trade. The convertible promissory note is guaranteed by the subsidiary's financing programs and carries no interest.
- The transaction is expected to close by Oct. 15.
- Source: Press Release
For further details see:
PHI Group to acquire 51% of Vietnam-based Van Phat Dat Export