Capitaland: Annouced that its unit has signed an agreement to acquire an additional 39.3% stake in LFIE Holding Ltd, a holding company for real-estate investments in China, for HK$762m (US$98 million). CapitaLand China CCDF (Cayman) Holdings., which currently owns a 6.95% stake in LFIE, will buy the additional stake…
Grp note that the acquisition is part of its ongoing business development and tofurther strengthen its presence t in China. The Consideration will be satisfied wholly in cash and is payable by CCDF Cayman on completion which is expected to take place in 1Q11. The above transactions are not expected to have any material impact on the NTA or EPS of the CapitaLand Group FY11.
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