British-based ISG currently has a 22% share in ISG Asia, the FM and project management business
UK-based Interior Services Group has bought the operating businesses of ISG Asia for £4.6m.
ISG currently has a 22% share in ISG Asia, which offers facilities management and project management from offices in Singapore, Kuala Lumpur, Hong Kong, Tokyo and Dubai.
The acquisition includes all of ISG Asia’s current operating subsidiaries, with the exception of two small businesses.
ISG Asia has agreed to find a buyer for the UK firm’s shareholding, worth £1.2m.
If they fail to find a buyer, ISG will deduct the value from the purchase price of the businesses.