CapitaLand's acquisition of Ascendas-Singbridge gets overwhelming nod from shareholders
The deal will vault CapitaLand to be among the top 10 real estate investment managers globally
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Nisha Ramchandani
Singapore
SHAREHOLDERS raised some concerns over CapitaLand's proposed acquisition of Ascendas-Singbridge (ASB) at an extraordinary generating meeting (EGM) on Friday before overwhelmingly giving their blessing for the deal.
The property developer is paying Temasek Holdings nearly S$6.04 billion for industrial and commercial real estate player ASB, although the deal has an enterprise value of about S$11 billion when taking into account some S$5 billion in debt owed by ASB.
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