Market Chatter: CapitaLand, IOI Near SG$2.4 Billion Deal for One Raffles Place

MT Newswires08-21 08:34

CapitaLand Investment (SGX:9CI) and IOI Properties (KLSE:IOIPG) are close to jointly acquiring the landmark One Raffles Place office complex in Singapore, Bloomberg News reported Thursday, citing people familiar with the matter.

The transaction, valued at roughly SG$2.4 billion, would see the two firms partner to purchase the twin-tower development, which includes retail space, the report said.

OUE REIT (SGX:TS0U) controls an 81.54% stake in the asset, while UOB (SGX:U11) holds the remaining 18.46%, according to the report.

CapitaLand, IOI, OUE REIT, and UOB did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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