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DBS selling PwC Building; deal values property at S$747m
DBS Group is selling PwC Building at 8 Cross Street to an indirect subsidiary of Manulife Financial Corporation.
The deal values the 28-storey office block at S$747 million.
The sale is expected to be completed by the end of March 2017.
Upon completion, the sale is expected to contribute about S$350 million to the consolidated net tangible assets as well as earnings of DBS Group.