Property giant CapitaLand’s restructuring plan is “fair and reasonable”, the independent financial adviser (IFA) in the deal said in a letter last Saturday.
The company’s independent directors have thus recommended that shareholders give the green light to both a capital reduction exercise and a scheme of arrangement when they vote on the planned transaction next month.
CapitaLand in March proposed to split its business into a privately held real estate development arm, as well as a new listed unit for investment management platforms and lodging.
Proposed entity CapitaLand Investment Limited (CLI) would become the largest real estate investment manager (REIM) on the Singapore bourse, with pro forma real estate assets under management…
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