Landsea Green Management (00106) announced that on January 8, 2024, Landsea is a non-wholly-owned subsidiary of the company...
According to Zhitong Finance App, Landsea Green Management (00106) announced that on January 8, 2024, Landsea Homes, a non-wholly-owned subsidiary of the company, plans to acquire all issued shares of Antares Acquisition, LLC from Tommy Mc Aden, Lisa Mc Aden and Mc Aden Enterprises, Inc., with a basic purchase price of US$185 million. The company has applied for the resumption of stock trading with effect from 9 a.m. on February 2, 2024.
After delivery, the target company will become a wholly-owned subsidiary of Landsea Homes, and its results will be recorded as a consolidated account of the company's results.
According to the announcement, the acquisition enabled the company to strategically expand its brand to the Dallas/Fort Worth area and strengthen its share in the US affordable premium housing market.
According to reports, the target company is a private builder in the Dallas-Fort Worth area, focusing on specification strategies, targeting entry-level and upgraded products.