CapitaLand leads Singapore REIT consolidation with $4.4 billion purchase from Temasek

Singapore’s CapitaLand is buying the owner of a clutch of real estate investment trusts from state investor Temasek [TEM.UL] for about $4.4 billion, a deal the developer said would create the largest diversified property group in Asia.

CapitaLand will buy the holding companies of the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate Investment Trust, Ascendas India Trust and Ascendas Hospitality Trust, for cash and stock.

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