UOL Group Exercises Call Option to Complete Acquisition of Residential Site

MT Newswires11-25

UOL Group (SGX:U14) exercised a call option to complete the acquisition of Thomson View Condominium, a residential site located at 1-17E Bright Hill Drive, Singapore, according to a filing with the Singapore Exchange on Monday.

The company exercised the option after confirming that it will pay 5% of the total consideration amounting to SG$1.0 million, within seven business day of the exercise of the call option.

In an earlier filing, the company's indirect subsidiary, United Venture Development and CL Onyx, an indirect unit of CapitaLand Development, entered into a put and call option agreement for the purchase of the site for a total consideration of SG$810.0 million.

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