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Sign in Sign up for a FREE subscriptionCapitaLand divests interests in three malls in China
CapitaLand, together with its subsidiary and associated companies, have agreed to divest their interests in three malls in China for RMB2.96 billion ($427 million).
Singapore-based CapitaLand will continue to manage the three malls — CapitaMall Xuefu, CapitaMall Aidemengdun and CapitaMall Yuhuating.
The transaction reportedly will generate $430 million in proceeds for CapitaLand, with a net gain of about $175 million.
The deal is expected to be completed between July and September 2019.
