CapitaLand announced it is, together with other parties, in negotiations with the vendor of Asia Square Tower 1 for a potential transaction involving Asia Square Tower 1.
The announcement was made following recent media reports regarding the acquisition of Asia Square Tower 1 by a consortium of Norway’s sovereign wealth fund and CapitaLand.
The Singapore developer clarified that negotiations with the vendor of Asia Square Tower 1 and other parties on the terms of the potential transaction are still on-going.
“There is no certainty or assurance that any transaction for Asia Square Tower 1 will materialise or that any definitive or binding agreement will result from such negotiations,” it said.
If the transaction proceeds, CapitaLand anticipates drawing upon internal sources of funds and available credit lines to finance the acquisition.
As at end-June, CapitaLand Group has $3.5 billion in cash and cash equivalents and $3.1 billion in available undrawn facilities.
CapitaLand shares closed at $3.13 on Oct 13.
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The announcement was made following recent media reports regarding the acquisition of Asia Square Tower 1 by a consortium of Norway’s sovereign wealth fund and CapitaLand.
The Singapore developer clarified that negotiations with the vendor of Asia Square Tower 1 and other parties on the terms of the potential transaction are still on-going.
“There is no certainty or assurance that any transaction for Asia Square Tower 1 will materialise or that any definitive or binding agreement will result from such negotiations,” it said.
If the transaction proceeds, CapitaLand anticipates drawing upon internal sources of funds and available credit lines to finance the acquisition.
As at end-June, CapitaLand Group has $3.5 billion in cash and cash equivalents and $3.1 billion in available undrawn facilities.
CapitaLand shares closed at $3.13 on Oct 13.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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