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CapitaLand acquiring another 80% stake in CBKH

The stake is currently held by a China development fund managed by the developer

Published Wed, Apr 16, 2014 · 10:00 PM

CAPITALAND is acquiring another 80 per cent interest in CapitaLand (Beijing) Kai Heng Holdings Pte Ltd (CBKH) that it does not already own from a group-managed China fund for 220.2 million yuan (S$45 million).

CBKH, which will become a fully owned subsidiary of CapitaLand post-transaction, has 100 per cent economic interest in Beaufort, a residential development site in Chaoyang District in Beijing.

CapitaLand's latest move, announced after market close yesterday, came hot on the heels of its $3.06 billion delisting offer for CapitaMalls Asia (CMA) on Monday.

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