Augusta Capital buys KCL Property, Investment Property Titles for $15.4 mln

Thu, 20 Mar 2014

March 21 (BusinessDesk) - Augusta Capital, the New Zealand listed property investor and fund manager, will buy property investors KCL Property and Investment Property Titles for $15.4 million in cash and scrip, to boost their portfolio and expand into Australia. The Auckland-based company will buy the KCL business from Bryce Barnett, Phil Hinton and Cheryl Macaulay for $10 million in cash and $5 million in Augusta shares, giving the KCL shareholders about 7.1 percent of the enlarged group. The IPT business is being bought from real estate gro...

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