Business Insider reports that SBS Corporation is about to sell its corporate services subsidiary, Fenlex Corporation, to a Hong Kong-based company.
According to Bloomberg, SBS is “planning to sell Fenlex to a Singapore company” that would “purchase the company for about $100 million.”
The Hong Kong Stock Exchange (HKSE) did not immediately respond to a request for comment.
Bloomberg notes that Fenlex is a Hong-based investment firm that focuses on corporate technology.
The company’s stock was trading at $19.97 on Monday.
Fenlex has been the subject of intense speculation among U.S. officials as they investigate whether Trump’s campaign colluded with Russia to sway the 2016 U.K. election.SBS and Fenlex are currently headquartered in Hong Kong.FENLEX was formed in 2014 as a subsidiary of SBS Holdings Corp., the U.SK Group, and a subsidiary that specializes in “the acquisition, development, and commercialization of innovative, high-performance data and analytics solutions.”
The company’s first acquisition was for “a U.SB Corporate Solutions division in the USB Group,” Bloomberg reported.
Bloomberg reported that SESC and Fenix have “purchased other U.N. organizations, including a group called UNITAID,” which “has received funds from the UBS Investment Bank.”
The U.SNB Group was founded by former U.B.C. chancellor Peter Mandelson.
The UBS Group is a private equity investment company that is “founded by former members of the global elite,” according to Bloomberg.
The company is “known for its long-term investments in the private equity industry,” and has “a large stake in the United States, the world’s largest economy.”
In the past year, SESCs investments in companies in the SBS Group have included “building new technology, software, and business models, and expanding the company’s business services portfolio,” according the company.
The SBS group is the second-largest privately held company in the world, according to the World Bank.SESCs latest acquisition was reportedly made in February, but the Hong Kong stock exchange did not provide any further details.
