V2Y (SGX:V2Y) entered into agreements to dispose of stakes in three of its subsidiaries, according to a filing with the Singapore Exchange on Friday.
The company entered into a sale and purchase agreement with Green Grapes to dispose of a 51% stake in Evertrust Distribution for a consideration of SG$580,000. The company entered into a similar agreement to dispose of a 100% stake in Evertrust F&B to Specialty Traditional Foodhub for a consideration of SG$250,000.
The company also entered into a sale and purchase agreement with Hao Xiang Enterprise to dispose of a 100% stake in EVT 603 for a consideration of SG$50,100.
Shares of the company were down nearly 13% in recent trading.
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