Upon completion of the proposed acquisition, CMT will own 100% of Westgate.
SINGAPORE (Aug 27): CapitaLand Mall Trust (CMT) is acquiring the remaining 70% stake in Westgate mall for $789.6 million from controlling unitholder CapitaLand. Including acquisition-related expenses, CMT’s total acquisition outlay is estimated at $805.5 million.
The acquisition is based on an agreed market value of Westgate at $1.13 billion ($2,746 psf).
