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- Release Date: 06/03/14 11:49
- Summary: ASSET: AUG: Augusta in discussions with KCL Property
- Price Sensitive: No
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AUG
06/03/2014 09:49
ASSET
REL: 0949 HRS Augusta Capital Limited
ASSET: AUG: Augusta in discussions with KCL Property
Augusta Capital advises that it is in an advanced stage of discussions with
another property syndicator (KCL Property) in relation to a potential
acquisition by Augusta of KCL Property's syndication business.
No binding agreement has yet been reached between the parties.
Augusta and KCL Property consider it appropriate to advise the market of the
proposed transaction as they each have a number of stakeholders who will be
interested in the transaction.
Augusta is excited about the potential transaction as it would continue the
growth of Augusta Capital's funds management business taking its funds under
management from approximately NZ$250 Million to over NZ$1 Billion and giving
the company a number of synergies and a platform for further growth.
It is intended that should a transaction proceed the principal shareholders
and directors of KCL will join the Augusta Executive team.
A further announcement will be made at the appropriate time.
Peter Wilson
Chairman
-ENDS-
For further information please contact:
Mark Francis
Managing Director
Augusta Capital Limited
T (09) 300 6161
F (09) 300 6162
[email protected]
End CA:00247879 For:AUG Type:ASSET Time:2014-03-06 09:49:09
