CapitaLand to sell its holdings in three China shopping malls

Singapore

CAPITALAND will sell all its holdings in three shopping malls in China for 2.96 billion yuan (S$589.2 million) to CapitaLand Retail China Trust (CRCT), the two mainboard-listed companies announced in bourse filings on Tuesday morning.

A CapitaLand subsidiary and three associated companies entered into a conditional agreement with CRCT to divest their interests in the three companies that hold the three malls - CapitaMall Xuefu and CapitaMall Aidemengdun in Harbin in the country's north-east, and CapitaMall Yuhuating in Changsha in Hunan province.