Ezion Holdings Limited (SGX:5ME) entered into a conditional letter agreement to acquire Teras Conquest 4 Pte Ltd from Evia Growth Opportunities II Ltd of Evia Capital Partners, SkyVen Growth Opportunities Fund Pte Ltd of SkyVen Capital Pte Ltd., and Venstar II Fund and Venstar Capital Management Pte Ltd. for SGD 40.8 million in stock on January 2, 2014. Ezion Holdings will issue its 18.39 million shares to Venstar Capital Management, Venstar II, Evia Growth Opportunities II and SkyVen Growth Opportunities Fund, to acquire 1.1 million shares of Teras Conquest 4.

The transaction is subject to signing of the definitive sale and purchase agreement and other ancillary agreements, the receipt of the approval in-principle for the admission to and listing and quotation of the Ezion consideration shares on the mainboard of the SGX-ST, notification to the mortgagee, Oversea-Chinese Banking Corporation Limited (OCBC) and the receipt of acknowledgment of no objection to the transaction from OCBC, satisfactory completion of business, legal and financial due diligence to Ezion's satisfaction, and no material adverse change to the financial conditions or operations of Teras Conquest 4, since the date of its last audited accounts. As of January 13, 2014, the approval in-principle for the admission to and listing and quotation of the Ezion consideration shares on the mainboard of the SGX-ST has been received.

Ezion Holdings Limited (SGX:5ME) completed the acquisition of Teras Conquest 4 Pte Ltd from Evia Growth Opportunities II Ltd of Evia Capital Partners, SkyVen Growth Opportunities Fund Pte Ltd of SkyVen Capital Pte Ltd., and Venstar II Fund and Venstar Capital Management Pte Ltd. on January 17, 2014. As on January 17, 2014, an agreement was also signed for the deal.