by: Tam Ging Wien

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Local property giant CapitaLand Ltd (CapitaLand) is acquiring Singapore government investment firm Temasek Holdings’s (Temasek) subsidiaries Ascendas Pte Ltd and Singbridge Pte Ltd (collectively known as Ascendas-Singbridge) in an S$10.9bil deal. This deal will result in CapitaLand becoming Asia’s largest diversified real estate group.

Of the S$10.9bil enterprise value of Ascendas-Singbridge, approximately S$4.9bil are debt and minority interest. Therefore, CapitaLand will be acquiring Ascendas-Singbridge at the cost