SINGAPORE (Mar 29): CapitaLand Retail China Trust (CRCT) and CapitaLand have entered into an agreement to divest their combined 100% stake in the company which owns CapitaMall Wuhu.

The transaction price is based on the company’s adjusted net asset value, including but not limited to its interest in CapitaMall Wuhu of RMB210 million ($41.5 million). The buyer is an unrelated third party.

Located in Wuhu city in China’s Anhui Province, CapitaMall Wuhu is a five-storey shopping mall with a gross floor area, excluding car park, of 45,000 sqm. The mall has been closed since 3Q18, following the exit of its anchor tenant.

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