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CDL surges on news of asset monetisation
Published Wed, Dec 16, 2015 · 09:50 PM
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Singapore
SHARES of City Developments (CDL) surged on Wednesday, a day after it announced a joint investment entity with Keppel Land's Alpha Investment Partners which will acquire three of CDL's office properties for S$1.1 billion.
The property and hotel conglo-merate's counter added 6 per cent or 44 cents to hit S$7.68, as brokerage houses published reports praising the move.
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