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
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http://www.ocbcresearch.com/
2017-06-21
OCBC Investment
SGX Stock
Analyst Report
1.690
Same
1.690
