Novus Properties Ltd (MUSE:NOV.I0000) signed a share sale agreement to acquire Mechanization Investment Ltd on December 19, 2017. The transaction is subject to certain conditions being met. Novus Properties Ltd (MUSE:NOV.I0000) completed the acquisition of Mechanization Investment Ltd for MUR 55 million on July 6, 2018. The bank debts of MIL stand at MUR 37 million. The acquisition will be financed by mixture of cash and debt. Pursuant to the transaction, Mechanization Investment Ltd will be rebranded into NOVUS GRNW PROPERTIES LTD. The earning per share of Novus Properties Ltd is expected to increase significantly as a result of the acquisition