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Equal mix of cash, shares to pay for Ascendas-Singbridge buy is prudent: CapitaLand CEO Lee Chee Koon

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Ng Ren Jye

Published Tue, Apr 9, 2019 · 09:50 PM

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    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.

    CapitaLandascendas-singbridge

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