CapitaLand turns Augite into a wholly owned subsidiary
Augite has a net asset value of S$952,674.
CapitaLand raised its 50% stake in Augite Pte. Ltd. (Augite) to 100% in an acquisition from Wachovia Development Corporation (WDC).
According to an announcement, the cash consideration for the acquisition is $1 per unit.
Augite is a property development company which developed the Urban Suites condominium, which sold all of its units.
The acquisition is not expected to affect the company's performance for the year.
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