January 14, 2019 / 12:31 AM / a year ago

CapitaLand to buy real estate units from Temasek for $4.4 bln

SINGAPORE, Jan 14 (Reuters) - CapitaLand Ltd said it entered into a deal with Singapore state investor Temasek to buy two wholly owned units from a subsidiary for a consideration of about S$6 billion ($4.4 billion) in a cash and stock deal.

The target companies are the holding companies of the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate Investment Trust, Ascendas India Trust and Ascendas Hospitality Trust.

Under the agreement, Temasek will effectively receive S$6.0 billion, which will be satisfied half in cash and half in new CapitaLand shares, which will be priced at S$3.50 a piece.

$1 = 1.3533 Singapore dollars Reporting by Aradhana Aravindan; Editing by Richard Pullin

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below