CapitaLand to buy real estate units from Temasek for $4.4 bln

CapitaLand India Trust

14/01/2019 24:27

SINGAPORE, Jan 14 (Reuters) - CapitaLand Ltd  CATL.SI  said
it entered into a deal with Singapore state investor Temasek
 TEM.UL  to buy two wholly owned units from a subsidiary for a
consideration of about S$6 billion ($4.4 billion) in a cash and
stock deal.
    The target companies are the holding companies of the
business of the Ascendas-Singbridge Group, which manages
Ascendas Real Estate Investment Trust  AEMN.SI , Ascendas India
Trust  AINT.SI  and Ascendas Hospitality Trust  ASHP.SI .
    Under the agreement, Temasek will effectively receive S$6.0
billion, which will be satisfied half in cash and half in new
CapitaLand shares, which will be priced at S$3.50 a piece.
    ($1 = 1.3533 Singapore dollars)

 (Reporting by Aradhana Aravindan; Editing by Richard Pullin)
 ((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net))