CapitaLand on Wednesday announced that it was selling a half-stake in a company that owns an office block currently under construction in a high-tech park in Shanghai to Citic Trust for a cash consideration of 173.1 million yuan (S$38.2 million).
Following the sale, Capitaland’s interest in the company, Caike Property, is reduced to 50 per cent and Caike ceases to be an indirect wholly-owned subsidiary of CapitaLand.
Caike Property owns the 23-storey RND Tower in Caohejing High-tech Park in Shanghai.
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