CapitaLand close to gaining 90% control of CMA

CAPITALAND, which aims to take CapitaMalls Asia (CMA) private, is on the verge of gaining 90 per cent control just days before its extended offer closes on June 9.

Sound Investments Holdings, the wholly owned subsidiary through which CapitaLand is making the offer, said that as at Tuesday, it and its concert parties owned, controlled or have agreed to acquire an aggregate of about 3.503 billion shares representing approximately 89.9 per cent of the issued share capital of CMA.

This comprised the starting stake of 65.4 per cent when the offer was first announced in April, another 9 per cent in valid acceptances and 15.5 per cent that the offeror has acquired or agreed to acquire.