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Monday, February 28, 2011

CAPITAMALL TRUST TO ACQUIRE ILUMA FOR S$295 MILLION

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CAPITAMALL TRUST TO ACQUIRE ILUMA FOR S$295 MILLION:
Key Points
  • CMT has entered into a sale and purchase agreement to acquire Iluma for S$295 million from Jack Investment Pte Ltd.
  • Iluma is a new shopping mall in Singapore located at Victoria Street opposite the popular Bugis Junction, one of CMT’s existing properties. The mall has a net lettable area (“NLA”) of 185,190 square feet (“sq ft”) and is connected by an overhead link-bridge to the second storey of Bugis Junction.
  • The Manager intends to wholly finance the Acquisition through internal sources of funds.
  • Following the Acquisition, CMT’s aggregate leverage will remain unchanged at 38.2%
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