China’s Boton Group Divests 51% Stake in Bubblemon
Kate Wang / Credit: RELX
China Boton has sold its Bubblemon Vape Brand to the founder of RELX vaping products, Kate Wang.
According to an announcement, the company has signed a sale agreement with the Han Holding SPV.
Han Holding is an investment holding limited company registered under the laws of the British Virgin Islands and a wholly-owned subsidiary of Sunnyheart Inc.
Sunnyheart Inc. is a limited liability company registered under the laws of the Cayman Islands, primarily engaged in the sale of e-cigarettes.
According to the directors, based on the information provided by Sunnyheart Inc., the ultimate beneficial owner of Sunnyheart Inc. is Wang Ying (also known as Kate Wang, CEO and founder of Relx Technology), who holds 50 percent voting rights of Sunnyheart Inc. and is the sole director of Sunnyheart Inc.
Upon completion of the transaction, the buyer and Han Holding SPV will respectively hold 81 percent and 19 percent of the target company’s equity.
After the reorganization, Boton Holding SPV and Han Holding SPV will respectively hold 51 percent and 49 percent of the target company’s equity, making the Korean target company a wholly-owned subsidiary of the target company, according to 2FIRSTS.
China Boton is an investment holding limited company registered in the Cayman Islands, mainly engaged in the research and development, production, trading, and sale of extracts, essences, and spices. The company is also involved in the design and manufacture of high-quality e-cigarettes and related products.