CMT and CCT merge to form Singapore's largest REIT | Agent.sg
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CMT and CCT merge to form Singapore's largest REIT

Fresh property news selection on January 22. 2020, Wednesday.

Today's news selection contains the latest real estate related stories. Do you own a real estate/property/finance blog or news site? Send the URL to news@agent.sg so our editors can use them as sources.


It is set to be CapitaLand’s primary investment vehicle for commercial real estate in Singapore.

CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) will form a merger to create the commercial REIT CapitaLand Integrated Commercial Trust (CICT), a news release revealed.

The REIT is set to be the largest one in Singapore and the third largest in the Asia Pacific with a market capitalisation of $16.8b and combined property value of $22.9b.

The proposed merger will be effected by way of a trust scheme of arrangement, with CMT acquiring all units of CCT for a total consideration comprising approximately 88% in CMT units and 12% in cash. The consideration per CCT unit comprises 0.720 new CMT units and $0.259 in cash, implying a gross exchange ratio of 0.820.

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