CapitaLand Limited, one of Asia’s largest diversified real estate groups, headquartered and listed in Singapore, has completed the acquisition worth S$11 billion(US$8 billion) of Temasek Holdings-owned Ascendas Pte Ltd and Singbridge Pte. Ltd.
The acquisiton creates one of Asia’s largest diversified real estate groups with over S$123 billion of assets under management.
The transaction had earlier received overwhelming approval by CapitaLand’s independent shareholders at an Extraordinary General Meeting held on 12 April 2019.
With the completion of the transaction, the enlarged CapitaLand Group will operate as a unified entity from 1 July 2019 as it marks a new chapter of combined competencies and scale. The Group’s enhanced real estate value chain and enlarged global network of commercial, retail; business park, industrial and logistics; integrated development, urban development; residential; lodging; as well as fund and asset management businesses spans over 30 countries across more than 200 cities.
”As an enlarged Group, we possess fully integrated capabilities in four core markets – Singapore, China, India and Vietnam, while building greater scale in developed markets.”
“The completion marks the coming together of two leading real estate players as one unified entity. As an enlarged Group, we possess fully integrated capabilities in four core markets – Singapore, China, India and Vietnam, while building greater scale in developed markets. With more asset classes in these markets, we will go further to achieve transformational growth. Diversifying our portfolio to new economy sectors such as business parks, logistics and industrial properties, will give us added competitive edge via a bigger global network of touchpoints. With greater access to the best talents, capital partners, markets and asset classes, we are confident of building CapitaLand into a winning global company,” said Mr Lee Chee Koon, Group CEO of CapitaLand Group.