SINGAPORE, Sept 4 — CapitaLand Integrated Commercial Trust will acquire a 50 per cent stake in Singapore’s ION Orchard mall for an agreed property value of S$1.85 billion...
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‘I stopped calling you papa’: Daughter also photographed naked by Frenchman who recruited dozens of men to drug-rape wife over 10 yearsSINGAPORE, Sept 4 — CapitaLand Integrated Commercial Trust will acquire a 50 per cent stake in Singapore’s ION Orchard mall for an agreed property value of S$1.85 billion , the real estate investment trust said yesterday.
As per the deal, CapitaLand Integrated will acquire an entire stake in CapitaLand Retail Singapore Investments, the entity which owns the 50 per cent interest in ION Orchard for a consideration of S$1.08 billion from CapitaLand Investment, the REIT said in a statement.“ION Orchard has close to 300 international and local brands, ranging from luxury to necessity trades, across eight storeys of retail space,” CapitaLand Integrated Commercial Trust CEO Tony Tan said.
Through the acquisition of CapitaLand Retail Singapore Investments, the company will also acquire a 50 per cent stake in ION Orchard Link, an underground pedestrian link with retail offerings, it said.CapitaLand Integrated intends to fund this acquisition through an equity fundraising of around S$1.1 billion.
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