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It is set to be CapitaLand’s primary investment vehicle for commercial real estate in Singapore.
CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) will form a merger to create the commercial REIT CapitaLand Integrated Commercial Trust (CICT), a news release revealed.
The REIT is set to be the largest one in Singapore and the third largest in the Asia Pacific with a market capitalisation of $16.8b and combined property value of $22.9b.
The proposed merger will be effected by way of a trust scheme of arrangement, with CMT acquiring all units of CCT for a total consideration comprising approximately 88% in CMT units and 12% in cash. The consideration per CCT unit comprises 0.720 new CMT units and $0.259 in cash, implying a gross exchange ratio of 0.820.
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Previous news selection
Mapletree Logistics Trust's NPI up 3.9% to $108.56m in Q3
About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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