CapitaLand Commercial Trust - OCBC Investment 2017-06-21: Completion Of The Sale And Contribution Of One George Street

CapitaLand Commercial Trust - OCBC Investment 2017-06-21: Completion Of The Sale And Contribution Of One George Street CAPITALAND COMMERCIAL TRUST C61U.SI

CapitaLand Commercial Trust - Completion Of The Sale And Contribution Of One George Street

  • CapitaLand Commercial Trust (CCT) announced that it has completed the sale and contribution of One George Street to One George Street LLP (OGS LLP) with CCT holding 50.0% of OGS LLP and OGS (II) Limited, which is a special purpose vehicle owned by insurer FWD Group, holding the remaining 50.0% of OGS LLP. 
  • In addition, OGS LLP has also entered into a S$591.0 million facility with a bank and has drawn down S$580.0 million which has been utilised to pay CCT. The manager will receive a divestment fee of c.S$3m (0.5% of 50% of the agreed value of S$1,183.2m set out in the sale and contribution agreement) which will be paid in cash. 
  • Maintain HOLD with an unchanged fair value estimate of S$1.69.




Eli Lee OCBC Investment | http://www.ocbcresearch.com/ 2017-06-21
OCBC Investment SGX Stock Analyst Report HOLD Maintain HOLD 1.690 Same 1.690



Advertisement




MOST TALKED ABOUT STOCKS / REITS OF THE WEEK



loading.......


ANALYSTS SAY


loading.......