CapitaLand Nabs $766M In Sale Of Australand Stake

Law360, New York (March 19, 2014, 2:07 PM EDT) -- Singapore-based real estate company CapitaLand Ltd. said on Wednesday that it has sold its 39.1 percent stake in Australand Property Group for about A$849 million ($766 million) in order to refocus its efforts on its core businesses in Singapore and China.

The transaction is expected to be completed by the end of this month. The sale marks CapitaLand's complete exit from the Australian property group, after the company initially sold 20 percent of its former 59.1 percent ownership of the company for about $398 million last...
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