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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