Success Universe, whose interests range from the lottery in mainland China to Ponte 16, an integrated casino-entertainment resort located in Macau, said it has sold off a 10 percent stake in Canada’s Jade Travel Group for C$332,500 ($267,894).
The company is selling the stake to 1034635 B.C. Ltd, a British Columbia-based company, which already has a 15 percent holding in the travel business.
Success Universe said it’s selling down its holding because directors see the disposal as a good opportunity to realise the company’s investment and to enhance the working capital of the group.
After the sale, which is scheduled for completion on June 15th, Success Universe will hold a 75 percent stake in Jade Travel.