CapitaLand Expands into Industrial Property by Acquiring Ascendas-Singbridge
CapitaLand will acquire Ascendas-Singbridge, or ASB, from Temasek for SGD 6 billion. The deal is expected to be earnings per share-accretive and will increase CapitaLand’s return on equity to 8.8% from 8.4%, based on numbers at the end of the third quarter. The acquisition will add another property type in industrial real estate to CapitaLand’s expanding breadth and reach. This acquisition builds on CapitaLand’s diversification strategy, which saw the property conglomerate acquiring multifamily ...CapitaLand Mall Trust is a real estate investment trust. Co. owns and invests in assets, which are used, or predominantly used, for retail purposes primarily in Singapore. Co.'s portfolio is comprised of 16 shopping centers, which include Tampines Mall, Junction 8, Funan DigitaLife Mall, IMM Building, Plaza Singapura, Bugis Junction, Sembawang Shopping Centre, JCube, Hougang Plaza, Lot One Shoppers' Mall, Bukit Panjang Plaza, Rivervale Mall, The Atrium@Orchard, Clarke Quay, Iluma, and Raffles City Singapore. All of Co.'s shopping centers are located in Singapore.
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