CapitaLand India Trust (SGX:CY6U), through its subsidiary, Ascendas Property Fund (India), signed three agreements to divest 20.2% of its interests in three data centers in India to Capitaland India Data Center Fund, for a total price of 7.02 billion Indian rupees, according to a Wednesday filing with the Singapore Exchange.
The data centers are located in Mumbai, Chennai and Hyderabad, the filing said.
The divestment is part of the trust's portfolio reconstitution strategy to monetize and realize the value of its developments.
Upon completion of the deal, CapitaLand India Trust will retain a 79.8% stake in each of the data center assets.
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