SINGAPORE (Jan 14): CapitaLand is acquiring all the shares in two subsidiaries of Ascendas-Singbridge (ASB) from Temasek to create the largest diversified property group in Asia.

The proposed transaction is valued at $11 billion and is subject to approval by CapitaLand’s independent shareholders at an Extraordinary General Meeting (EGM), to be convened by 1H19.

Once the deal is completed, the combined total assets under management (AUM) of the group will exceed $116 billion. The group’s expanded asset classes will include logistics and business parks, industrial, lodging, commercial, retail and residential. Its geographical presence will span more than 180 cities across 32 countries.

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