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Sign in Sign up for a FREE subscriptionCapitaLand to divest interest in five business parks and a mall in China
CapitaLand, through its associates, has entered into agreements to divest its share of interest in the companies that hold five business park properties and Rock Square mall in China to CapitaLand Retail China Trust (CRCT).
The agreed value of the properties, arrived at on a willing-buyer and willing-seller basis, amounts to RMB 8.1 billion (S$1.65 billion/$1.22 billion) on a 100 percent basis. CapitaLand’s effective stake comprises:
A 23 percent interest in Ascendas Xinsu Portfolio in Suzhou; Ascendas Innovation Towers in Xi’an; and Ascendas Innovation Hub in Xi’an (80 percent) held through Ascendas China Business Parks Fund 4 (ACBPF 4) An 80 percent interest in Singapore-Hangzhou Science & Technology Park Phase I and Phase II in Hangzhou A 49 percen