Dragon Capital Will Advise Former Majority Shareholders of Corolex
OREANDA-NEWS. July 05, 2010. The former majority shareholders of Corolex (formerly known as Allseeds Group), who agreed to sell their 56.4% stake to entities affiliated with Kernel Holding S.A. in January 2010, have encountered a number of issues which have not been resolved with the buyer yet and, thus, prevent full completion of the transaction. Therefore, the former majority shareholders have appointed Dragon Capital as their financial adviser to ensure the due implementation of their contractual rights.
Allseeds Group has since thenbeen renamed into Corolex; neither Corolex nor its new controlling shareholder are affiliated with a company that has recently started to trade in vegetable oil under the name “Allseeds.”
As previously reported, Dragon Corporate Finance (B.V.I) Ltd. has been appointed as a financial advisor to the shareholders who own 6% of the Corolex shares, and has previously acted as exclusive adviser to the sellers of a 37.6% stake in Allseeds Group, which sale was successfully completed in February 2010.