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BRIEF-United Overseas Australia says foreign investment review board granted approval for an acquisition
June 2, 2017 / 6:36 AM / 2 months ago

BRIEF-United Overseas Australia says foreign investment review board granted approval for an acquisition

1 Min Read

June 2 (Reuters) - United Overseas Australia Ltd

* Entered into a memorandum of understanding to progress formal agreements with psaros group of companies

* United overseas Australia through unit has acquired a 51% interest in East Parade Pty Ltd, S.P.V. Developing project

* Foreign investment review board approval has now been granted for acquisition and other conditions precedent met

* United Overseas Australia Ltd says project consists of 70 high end residential units and 3 commercial units with a value at completion of about A$34 million Source text for Eikon: Further company coverage:

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