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Property firm CapitaLand through its wholly-owned subsidiary CapitaLand China Holdings has acquired an additional 4.39 percent stake in Raffles City China Fund for about S$86.1 million.
The latest deal is in line with CapitaLand’s on-going expansion in China.
The private equity fund has a property portfolio that includes Raffles City Shanghai, Raffles City Hangzhou, Raffles City Ningbo, Raffles City Beijing and Raffles City Chengdu.
The acquisition will not have any material impact on the net tangible assets or earnings per share of CapitaLand for FY2013.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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