To recap, Adventus entered the JV project with Panthera Company and Tuan last year in April, with the common aim of building a residential and retail development in Danang, Vietnam.
SINGAPORE (June 6): Adventus Holdings says it has terminated its agreement to sell its 45% joint venture (JV) to Tran Hoang Anh Tuan, a partner in the project who originally intended to pay US$1.1 million for the group’s owned interest in the JV’s special purpose vehicle, ADV S3.
The transaction’s termination comes after Tran issued a notice to the group saying there were “some unforeseen issues” with the transaction, and after both parties “explored all possible options”, says the group in an aftermarket filing on Thursday.
