Radius Residential Care Limited entered into conditional agreement to acquire Four Aged Care Facilities from UCG Investments Limited for NZD 46.7 million.

Radius Residential Care Limited (NZSE:RAD) entered into conditional agreement to acquire Four Aged Care Facilities from UCG Investments Limited for NZD 46.7 million on March 30, 2022. The UCG Acquisition will be funded through a new NZD 23.675 million loan facility with an up to five-year term from ASB Bank, an existing development facility that will be partially re-purposed of NZD 15 million to support funding the UCG Acquisition for five months and a new NZD 8 million bridging facility with a five-month term. The transaction is subject to approval from shareholders of Radius care.

The transactions are expected to settle on April 29, 2022.