CapitaLand Limited has completed the divestment of 100% of the issued shares of Excel Chinese International Limited. The Divestment was to a party unrelated to CapitaLand and for a cash consideration of HK$581.8 million, approximately S$101.6 million. ECIL owns the serviced residence property known as "Citadines Mercer Hong Kong" located in Sheung Wan, Hong Kong. The Property has reached the optimal stage of its life cycle and the Divestment is in line with CapitaLand's strategy of unlocking value through proactive portfolio reconstitution...
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Source: ShareInvestor Express