CapitaLand's subsidiaries and associates divest stakes in six malls in India

Singapore

CAPITALAND Limited said its subsidiaries and associates have agreed to divest their respective stakes in six malls in India and in the property manager of these malls for S$71.5 million.

The six malls, which have been sold to Prestige Retail Ventures Limited, are each held under a special-purpose vehicle. The malls are in Bangalore, Mangalore, Hyderabad, Mysore, Cochin and Udaipur.