Maybank Kim Eng has maintained its “buy” rating for CapitaLand Mall Trust (CMT) with an unchanged target price of $2.35, in view of the latter’s proposed merger with CapitaLand Commercial Trust (CCT).

The proposed merger is planned to be undertaken via an acquisition of all the units of CCT by CMT under a trust scheme of arrangement.

Existing unitholders of CMT and CCT are expected to vote on the proposed transaction at an extraordinary general meeting on Sept 29.

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