Singapore’s CapitaLand and Mapletree mull merger: report
The process is part of recent moves by Temasek-owned entities to evaluate options to reshape portfolio companies into stronger global entities, according to the report
[HONG KONG] Two Singapore property asset managers are mulling a merger that could create one of Asia’s largest real estate firms with more than $150 billion under management, Dow Jones reported on Monday (Nov 3).
CapitaLand Investment, backed by Singapore state investor Temasek Holdings, and Mapletree Investments, a fully-owned subsidiary of Temasek, are considering a potential business combination, the news agency reported, citing sources familiar with the matter. It said that the plans are at preliminary stages and a deal may or may not materialise.
The process is part of recent moves by Temasek-owned entities to evaluate options to reshape portfolio companies into stronger global entities, the report cited one of the sources as saying.
CapitaLand said in response to a query from Bloomberg News that it remains firmly committed to delivering long-term value for its shareholders and in the ordinary course of its business, it “regularly explores and evaluates various investment opportunities that align with its strategic objectives”. It said that it was aware of recent market speculation, adding that it does not comment on rumours or speculation.
A Mapletree Investments spokesperson and a Temasek spokesperson declined to comment. BLOOMBERG
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