CapitaLand sells self-storage business StorHub for S$179.5m

Singapore

CAPITALAND has sold a group of companies that own and manage its self-storage business, StorHub, for an aggregate S$179.5 million to an unrelated and undisclosed buyer.

Of the total aggregate, S$167.5 million is in outstanding shareholder loans owed by the group of companies to StorHub Group Pte Ltd and has been assigned to the buyer, who will pay in stages. StorHub Group will continue to be wholly owned by CapitaLand post-divestment.