Avarga (SGX:U09) is increasing its stake in Canadian building materials distributor Taiga Building Products to 74.2% from 72.0% through a CA$10.1 million purchase of 2.4 million shares, according to a Monday filing on the Singapore Exchange.
The acquisition, made via wholly owned unit Avarga Canada, is expected to close by April 24. The shares were acquired at CA$4.20 each from a third-party Canadian vendor. The deal was funded using internal resources.
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