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Adventus sells partial JV stake in Danang project for $1.5 mil upon facing 'some difficulties'

Michelle Zhu
Michelle Zhu5/22/2019 07:35 AM GMT+08  • 1 min read
Adventus sells partial JV stake in Danang project for $1.5 mil upon facing 'some difficulties'
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).
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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.

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.

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