ISOTeam to sell 34.1% stake in subsidiary to Japan's Taisei Oncho

SINGAPORE (Feb 13): ISOTeam is proposing to sell a 34.1% stake in its wholly-owned subsidiary ISO-Integrated M&A to Japan-listed Taisei Oncho (TOC) for $3 million, with the intention to subsequently establish a joint venture (JV) with TOC to strengthen its own capabilities.

ISO-Integrated M&A is mutually agreed to be valued at $8.8 million, while the consideration price presents a premium on the initial cost of investment.

In a Tuesday filing, ISOTeam says TOC, a mechanical and electrical (M&A) engineering firm, and ISO-Integrated M&A are in complementary businesses with synergistic capabilities.

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