Oxley acquires 20% stake in UK developer Galliard Group for $106.8m
To strengthen its foothold in London.
Mainboard-listed lifestyle property developer, Oxley Holdings revealed that it has entered into a subscription and shareholders’ agreement to acquire a 20% stake in the enlarged share capital of UK developer Galliard Group.
The deal has a total subscription price of $106.8m (GBP 50m). Oxley said that the acquisition will allow it to further strengthen its foothold in London.
Oxley will capitalize and leverage on Galliard Group’s construction and property development expertise and network. Oxley’s Chairman & CEO, Mr Ching Chiat Kwong and Deputy CEO, Mr Low See Ching will be appointed as Investor directors to the board of Galliard Group.