CapitaLand: To Divest 3 Malls In China For RMB2.96 Billion.11 Jun 2019 10:43
CapitaLand's subsidiary and associated companies have entered into an agreement with CapitaLand Retail China Trust to divest their interests in three companies that hold three malls in China, CapitaMall Xuefu and CapitaMall Aidemengdun in Harbin and CapitaMall Yuhuating in Changsha. The divestment of the three companies is based on an agreed value of RMB2,960 million, about S$589.2 million, for the three malls held by the companies. The sale will generate for CapitaLand proceeds of about S$239.9 million and a net gain of about S$37.6 million. The transaction, which is conditional upon CRCT unitholders' approval, is expected to be completed in 3Q 2019...
Source: ShareInvestor Express