The deal was contingent on 80% of the owners, by strata area and share value, signing a supplemental agreement to lower the reserve price from $918 million to $808 million. The property had been relaunched for sale in February this year with a reserve price of $918 million.
UOL Group announced on Nov 25 that it has exercised its call option to purchase Thomson View Condo en bloc for $810 million. A payment equivalent to 5% of the purchase price, inclusive of a 1% option deposit of $1 million, will be made within seven business days of exercising the call option.
On Oct 26, UOL and CapitaLand Development (CLD) entered into a put-and-call option agreement to purchase Thomson View Condo for $810 million.
