CapitaLand Investment Limited (SG:9CI) has released an update.
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CapitaLand Investment Limited (CLI) is advancing its asset-light strategy with the sale of a 50% stake in the iconic ION Orchard to CapitaLand Integrated Commercial Trust, a move expected to bolster its funds under management by S$1.85 billion. This sale, part of CLI’s aim to exceed its S$3 billion annual capital recycling target, is set to enrich CICT’s portfolio with a prime retail destination. The S$1.08 billion cash transaction, pending unitholder approval, is slated for completion in the fourth quarter of 2024.
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