CapitaLand wraps up Ascendas-Singbridge buyout
The enlarged group will operate as a unified entity from July 1 with a global network spanning over 30 countries across more than 200 cities
Tay Peck Gek
Singapore
MAINBOARD-LISTED property heavyweight CapitaLand will mark a new milestone on July 1 as an enlarged group following the completion of its S$11 billion acquisition of Ascendas-Singbridge.
In a regulatory filing by CapitaLand on Sunday, the real estate giant announced that it had completed its transaction with Temasek and acquired all the issued shares of Ascendas and Singbridge. With this, the group has become one of Asia's largest diversified real estate players with over S$123 billion of assets under management. Its global network of commercial, retail; business park, industrial and logistics; integrated development, urban development; residential; lodging; as well as fund and asset management businesses spans over 30 countries across more than 200 cities.
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