CapitaLand achieves stake to make compulsory acquisition of CapitaMalls Asia
Stake in CMA reaches 97.1%
Singapore, 8 June 2014– CapitaLand Limited is pleased to announce that its stake in CapitaMalls Asia Limited (CMA) is now above the threshold to compulsorily acquire the remaining CMA shares that it does not own. This marks a key milestone for CapitaLand in its Offer for CMA shares.
As at 5pm on 6 June 2014, CapitaLand and its concert parties owned, controlled or have agreed to acquire (including acceptances of the Offer) an aggregate of 3,784,462,936 Shares, representing approximately 97.1% of CMA’s issued share capital.
The Offer will close at 5.30pm on 9 June, and CMA will be suspended from trading on 10 June 2014.
CapitaLand has submitted an application to the Singapore Exchange for the delisting of CMA.
Mr Lim Ming Yan, President & Group CEO, CapitaLand Limited, said: “The delisting and full integration of CMA will significantly simplify CapitaLand’s organisational structure and enhance our ability to undertake and optimise integrated developments. It will also allow us to further leverage Asia’s consumption and China’s urbanisation trends. CapitaLand continues to be committed to its vision to be a pre-eminent real estate company in Asia.”
CMA shareholders whose valid acceptances are received by the closing date will be paid within 10 days from the date of receipt. The remaining CMA shareholders who have not accepted the Offer will receive a letter from CapitaLand on the compulsory acquisition of their CMA shares.