CapitaLand fully acquires DLSP-Ascendas for $103m

DLSP-Ascendas holds Dalian Ascendas IT Park in China.

CapitaLand has completely gobbled up DLSP-Ascendas, increasing its interest from 50% to a full acquisition.

In a boutse disclosure, CapitaLand said the acquisition was made through its subscidariy Ascendas (China) Pte Ltd, for a cash consideration of RMB501m, or approximately $103m.

DLSP-Ascendas holds Dalian Ascendas IT Park, located in Dalian, China.

The Chinese firm has been given 6 months to settle its internal affairs. It will then become a wholly owned subsidiary of CapitaLand.

The acquisition is not expected to make any material impact on the net tangible assets or earnings per share of CapitaLand for the financial year of 2021.