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CapitaLand sells remaining stake in Australand

Sale receipt of $970.1m; net gain of $35.7m

CAPITALAND has sold its remaining 39.1 per cent stake in Australand Property Group, reaping it an expected net gain of about $35.7 million.

The Singapore-headquartered property group sold its remaining 226.2 million stapled securities through a secondary placement yesterday at an average price of A$3.75...

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