Autagco Subsidiary to Acquire Business, Assets of Crescendo Wellness Living

Autagco's (SGX:1D3) wholly owned subsidiary, Communa Gold, is set to acquire the entire business and assets of Crescendo Wellness Living for SG$50,000, after entering into a sale and purchase agreement, according to a filing with the Singapore Exchange on Monday. The company had earlier entered into a non-binding term sheet with Vimallan Manokara to purchase the business assets of the assisted living company. Vimallan had also entered into a subscription agreement for the subscription of 8,333,333 shares in the capital of the company for a subscription price of SG$0.003 per share. The acquisition is part of the group's strategy to enter into the assisted living sector and diversify its business and income stream.