OLS Enterprise acquires 100% interest of investment holder BSDCN

The transaction was worth $6m.

Investment holder OLS Enterprise (OLS) bought 100% of share capital of another investment holding firm BSDCN Pte Ltd for $6m.

According to an announcement, the acquisition is a premium the net tangible asset value of BSDCN of $1.4m.

The acquisition is part of the OLS' strategy to expand into financial services, focused on asset management.

It followed the acquisition of 51% of Advance Capital Partners Asset Management Private Limited.

"The Proposed Acquisition will provide the Group with a platform to build a scalable asset management business, and create potential synergies with the business of Advance Capital Partners Asset Management Private Limited," OLS said.