SINGAPORE (THE BUSINESS TIMES)- Property giant CapitaLand’s restructuring plan is “fair and reasonable”, the independent financial adviser (IFA) in the deal said in a letter on Saturday (July 17).
The independent directors have thus recommended that shareholders green-light 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 Ltd (CLI) would become the largest real estate investment manager (REIM) on the Singapore bourse, with pro forma real estate assets un…
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