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HOUSTON - Ingrasys Technology USA Inc., a subsidiary of Hon Hai (TW:2317) Precision Industry Co Ltd, has completed the acquisition of a significant land and building asset in Houston, Texas. The transaction, which occurred on Monday, involves the purchase of property located at 8702, 8710, 8718, and 8726 Fairbanks North Houston Rd, encompassing 86.34 acres of land and a building of 1,011,521 square meters, for a total of USD 142,124,461.
The acquired property’s significant size and the substantial transaction value reflect Ingrasys Technology’s operational needs, according to the company’s statement. The deal was negotiated based on market prices, and the decision was made by the company’s board of directors on the same day as the transaction.
Two professional appraisal firms, Newmark Valuation & Advisory and MBLane & Associates, Inc., were involved in providing valuation services for the property. The appraised values were reported at USD 143,530,000 and USD 136,200,000, respectively, with professional appraisers Ernest Wolf, Sara Payne, Michael B. Lane, and Lee Doehring providing their expertise.
Ingrasys Technology’s acquisition did not involve any brokers or broker’s fees, and the transaction’s escrow fees, taxes, insurance fees, and other expenses will be settled based on the actual amounts incurred. The company has stated that there are no restrictive covenants in the contract and that payment terms and other important conditions were not disclosed.
The transaction was not associated with any related parties, and there were no dissenting opinions from directors regarding the purchase. It was also noted that the property has not been owned by a related party within the past five years.
This strategic acquisition by Ingrasys Technology USA Inc. is based on the company’s operational needs, and the details of the transaction have been provided by RNS, the news service of the London Stock Exchange (LON:LSEG). This information is based on a press release statement and is intended to inform stakeholders and the public about the recent activities of Ingrasys Technology USA Inc. and its parent company, Hon Hai Precision Industry Co Ltd.
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