The divestment to CLINT comes at a consideration of approximately INR13.5 billion ($221.9 million). The total sale consideration represents a premium of around 9% to CLI’s valuation of ITPP-H in December 2021.
CapitaLand Investment’s (CLI) wholly-owned subsidiary Ascendas India Development VII and its joint venture partner Maharashtra Industrial Development Corporation (MIDC) have entered into separate agreements with CapitaLand India Trust (CLINT) where Ascendas India Development VII and MIDC will divest their respective 78.5% and 21.5% shareholding in Ascendas IT Park (Pune) to CLINT.
Ascendas India Development VII is a wholly-owned subsidiary of CLI India, which is formerly known as CapitaLand India. Ascendas IT Park (Pune) owns International Tech Park Pune in Hinjawadi (ITPP-H) in India.
