SINGAPORE (May 14): The trustee-manager of Ascendas India Trust (a-iTrust) has entered into a forward purchase agreement to acquire two buildings in Navi Mumbai, India for a total of 9.3 billion Indian rupees ($186 million).

The trustee-manager says more details on the mode of financing the acquisition will be determined near the point of closing.

The sum will include a-iTrust's subscription for debentures issued by the co-developer of the two buildings amounting to 5.01 billion Indian rupees. This is intended to be financed via existing cash resources in India and additional borrowings.

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