Offerors' stakes in CapitaMalls Asia, Hotel Prop up
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TWO offerors have upped their respective shareholdings in CapitaMalls Asia (CMA) and Hotel Properties Limited (HPL).
Sound Investment Holdings, a wholly owned subsidiary of CapitaLand, said that as at Monday, it and concert parties owned, controlled or have agreed to acquire an aggregate of about 3.46 billion shares representing about 88.7 per cent of the issued share capital of CMA.
On April 14, CapitaLand said it sought to take complete ownership of its 65 per cent owned subsidiary CMA with a view to taking it private. Sound Investments Holdings, together with its concert parties, had then agreed to acquire 2.5 billion CMA shares, representing approximately 65.4 per cent of CMA's issued share capital.
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