Adventus moved to reduce its exposure to the project after encountering “some difficulties” in obtaining licenses, permits and approvals from the Vietnamese authorities for the JV’s residential project in Danang, said the company in its filing on Tuesday night.
SINGAPORE (May 22): Adventus Holdings is selling back a 45% stake in ADV S3 to its former joint venture (JV) partner, Tran Hoang Anh Tuan, for US$1.1 million ($1.5 million).
ADV S3 is an investment holding company established for the development and sale of a residential project in Danang, Vietnam.
