Deals
CapitaLand CEO Puts Stamp on Developer With $4.4 Billion Deal
- Temasek transaction adds scale in India, U.S., Europe
- Deal will be subject to approval from independent shareholders
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CapitaLand Ltd.’s new chief Lee Chee Koon has wasted no time putting his mark on the Singapore developer, striking a S$6 billion ($4.4 billion) deal with Temasek Holdings Pte to create what he says will be Asia’s largest diversified real estate company.
CapitaLand will pay a mix of cash and new stock for Temasek units Ascendas Pte and Singbridge Pte, bolstering its assets to more than S$116 billion spread across 180 cities in 32 countries, it said in a statement Monday.