Dart buys Fort Worth library property
Dart Interests LLC has bought Fort Worth’s Central Library building for $18 million.
The US property development and investment firm belongs to Ken and Bob Dart and owns properties in Florida, South Carolina, New York, California and Texas.
Dart submitted the highest cash offer in the bidding process that also required prospective buyers to invest a minimum of $100 million into developing the project as a mixed-use office, residential and lease space.
In addition, Dart agreed to a sale and leaseback transaction that leaves part of the library building under City Council management for the next year. The library itself will be relocated later in 2023.
The 250,000-square foot, three-storey building is located on more than two acres in downtown Fort Worth.
Ogier advises Venus Acquisition Corporation on business combination with VIYI Algorithm
Ogier has acted as Cayman Islands counsel on the merger between Venus Acquisition Corporation (Venus) and VIYI Algorithm Inc. (VIYI) in a deal valued at around US$400 million.
Ogier advised Venus, a Nasdaq-listed special purpose acquisition company incorporated in the Cayman Islands, in connection with the merger. VIYI is a subsidiary of China-based WiMi Hologram Cloud and is focused on developing bespoke central processing algorithms to optimise client software and hardware systems.
The merger was structured by way of a newly created subsidiary of Venus merging with VIYI, with VIYI being the surviving company and a wholly owned subsidiary of Venus. Upon closing of the transaction, Venus changed its name to MicroAlgo Inc.
It is expected that Venus’ ordinary shares will trade on The Nasdaq Capital Market under the ticker symbol “MLGO”.
Ogier Cayman represented Venus since its incorporation and initial IPO in February 2021.
DLA Piper and Maples and Calder (Hong Kong) LLP advised VIYI.
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