COMMERCIAL PROPERTY, RETAIL | Staff Reporter, Singapore

CapitaLand divests Bedok Mall to CMT for $783.1m

The deal will be completed in Q4.

CapitaLand today revealed that it is divesting Bedok Mall to CapitaLand Mall Trust (CMT) for a total consideration of $783.1m.

CapitaLand will divest its entire unitholding interest of Brilliance Mall Trust, which owns Bedok Mall.

Of the total amount of $783.1 million, CapitaLand will receive from CMT about S$464.0 million, including 72 million new units in CMT, which will be priced at the 10-day Volume Weighted Average Price immediately preceding the date of completion of the transaction.

The transaction, which is conditional upon CMT unitholders’ approval, among other things, is expected to be completed by the fourth quarter this year.  

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