CapitaLand Commercial Trust (CCT) has proposed to acquire the remainder 60% interest in Grade A office tower CapitaGreen for $393 million.
CCT currently owns a 40% interest in units in MSO Trust, a special purpose sub-trust that holds CapitaGreen.
CapitaLand owns 50% interest in MSO Trust, while Mitsubishi Estate Asia (MEA) owns the remaining 10%.
CCT intends to exercise a call option to acquire the respective stake from CapitaLand and MEA, subject to the approval of the their unitholders.
Upon completion of the proposed acquisition, CCT will own 100% of CapitaGreen through MSO Trust.
As at March 31, 2016, CapitaGreen's occupancy was 92.8% with leases to expire only from 2018 onwards.
CCT ended flat at $1.38 last Friday.
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CCT currently owns a 40% interest in units in MSO Trust, a special purpose sub-trust that holds CapitaGreen.
CapitaLand owns 50% interest in MSO Trust, while Mitsubishi Estate Asia (MEA) owns the remaining 10%.
CCT intends to exercise a call option to acquire the respective stake from CapitaLand and MEA, subject to the approval of the their unitholders.
Upon completion of the proposed acquisition, CCT will own 100% of CapitaGreen through MSO Trust.
As at March 31, 2016, CapitaGreen's occupancy was 92.8% with leases to expire only from 2018 onwards.
CCT ended flat at $1.38 last Friday.
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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