CapitaLand confirms talks with Asia Square Tower 1 vendor
CAPITALAND issued a statement on Wednesday saying it is, with other parties, in negotiations with the vendor of Asia Square Tower 1 for a potential transaction.
"As negotiations with the vendor of Asia Square Tower 1 and the other parties on the terms of the potential transaction aritse still on-going, there is no certainty or assurance that any transaction for Asia Square Tower 1 will materialise or that any definitive or binding agreement will result from such negotiations," said the real estate company.
If the transaction proceeds, it anticipates drawing upon internal sources of funds and available credit lines to finance it. As at June 30, CapitaLand group has approximately S$3.5 billion in cash and cash equivalents and approximately S$3.1 billion in available undrawn facilities.
Bloomberg had earlier reported that a consortium of Norway's sovereign wealth fund and CapitaLand has been chosen as the preferred bidder for Asia Square Tower 1.
It added that the bidding group will start exclusive talks with BlackRock on the purchase and could reach an agreement in the next month, according to people with knowledge of the matter.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results