Centurion Corp. (SGX:OU8) has agreed to invest AU$2.5 million in an Australian company that is developing a student accommodation project.
The company will subscribe to 2.5 million shares in Lachlan Avenue Development, which accounts for a 25% stake in the target company, according to a filing with the Singapore Exchange on Tuesday.
Lachlan Avenue Development owns a site situated in Lachlan Avenue and Herring Road in Australia and has obtained approval to develop the site into a 732-bed student accommodation.
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