CapitaLand Investment sells 4.88% stake in CLAS for $162m

The transaction decreased its stake in CLAS to 24.04%.

CapitaLand Investment Limited (CLI) has sold 185,253,000 or 4.88% stapled securities in CapitaLand Ascott Trust (CLAS).

The stapled securities were sold to an unrelated third party for a total consideration of approximately $162m.

The transaction decreased CLI’s stake in CLAS to approximately 24.04% from 28.92%. CLAS will also cease to be a subsidiary and will instead be accounted for as an associate of CLI Group.

In addition, CLI expects to record a loss of approximately $141m following the transaction.

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CapitaLand Investment Limited

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