SINGAPORE (Jan 22): CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) have jointly proposed the merger of their two REITs to create a diversified commercial REIT, CapitaLand Integrated Commercial Trust (CICT), through a trust scheme of arrangement. CMT will pay $2.1238 for each CCT unit comprising 0.72 new CMT units and $0.259 cash.

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