HSBC Institutional Trust Services, in its capacity as trustee of CapitaLand Retail China Trust (CRCT), has entered into a conditional equity interests transfer agreement to divest its entire equity interest in Wuhan New Min Zhong Le Yuan Co to an unrelated third party for a consideration of RMB258.0 million ($52.6 million).

The agreement was signed on Jan 11 by HSBC Institutional Trust Services’ wholly-owned subsidiary Somerset (Wuhan) Investments.

Wuhan New Min Zhong Le Yuan Co holds CapitaMall Minzhongleyuan and three sets of premises located at Sanyang Complex in Jiangan District, in Wuhan.

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