On the evening of July 17, CapitaLand announced its Extraordinary General Meeting and the Scheme Meeting to be held by way of electronic means on Tuesday, August 10, 2021. The meeting's aim is to seek shareholders’ approval for the Proposed Strategic Restructuring and Listing of CapitaLand Investment as announced by CapitaLand and its existing controlling shareholder CLA Real Estate Holdings on March 22, 2021.
Post-proposed transaction, CapitaLand’s investment management platforms, as well as its lodging business, will be consolidated into CapitaLand Investment (CLI), which will be listed by introduction on the Singapore Exchange; while the real estate development business of CapitaLand will be placed under private ownership, to be fully held by CLA.
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The transaction proposed to be effected by the scheme comprises a CLI distribution in specie, a CapitaLand Integrated Commercial Trust (CICT) distribution in specie, and a cash consideration of $0.951 per CapitaLand share.
Upon listing, CLI will become Asia’s largest listed real estate investment manager (REIM) and third largest REIM globally with pro forma total real estate assets under management (RE AUM) of approximately $115 billion as at December 31, 2020. On a pro forma basis, as at December 31, 2020, CLI had approximately $78 billion of real estate funds under management (FUM) held via its managed Listed Funds and Unlisted Funds across the Asia-Pacific, Europe and USA. CLI’s business model comprises two key segments. Firstly, its Fee Income-related Business anchored by investment and asset management, property management and lodging management. Secondly, the Real Estate Investments through its direct holdings in investment properties as well as its stakes in Listed Funds and Unlisted Funds.
Photo: CapitaLand
