Equal mix of cash, shares to pay for Ascendas-Singbridge buy is prudent: CapitaLand CEO Lee Chee Koon
Singapore
CAPITALAND said it weighed carefully its funding requirement to pay for the acquisition of Ascendas-Singbridge before concluding that an equal mix of cash and shares was best as it avoids either over-gearing the company or issuing new shares at too steep a discount, said CapitaLand's president and group chief executive officer Lee Chee Koon.
CapitaLand has inked a deal to buy Ascendas-Singbridge with an enterprise value of S$11 billion from Temasek Holdings. This takes into account debt owed by Ascendas-Singbridge and a payment of S$6 billion to parent company Temasek.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama