Financial Wire

Centurion Buys Worker Accommodation Business in Australia

-- Centurion (SGX:OU8) through Centurion Overseas Investments, set up a new subsidiary in Australia named Centurion Karratha (King Way), according to a Monday filing with the Singapore Exchange.

Centurion Australia Investments subscribed to all of the units in the Karratha Unit Trust.

Concurrently, Centurion Karratha signed deals to acquire the Velocity Village workforce accommodation business and the Velocity Motel and Bistro for AU$45 million.

The target businesses operate in Karratha, a city in the Pilbara region of Western Australia.

The acquisition is part of the company's strategy to expand its worker accommodation operations.

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