Temasek's Mapletree To Buy Hong Kong Mall For $2.4B

Law360, New York (July 29, 2011, 12:58 PM EDT) -- Mapletree Investments Pte. Ltd., a unit of Temasek Holdings Pte. Ltd., said Friday that it had struck a deal to buy a Hong Kong shopping mall from Swire Properties Ltd. for S$2.9 billion ($2.4 billion).

Mapletree said it would be acquiring the Festival Walk mall along with a consortium of other institutional investors as capital partners, marking the company's first commercial property purchase in Hong Kong. The mall is set to be a “seed asset” for a portfolio of Hong Kong commercial properties that Mapletree plans...
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