Adds more details on the transaction from paragraphs 2 onwards
Nov 20 (Reuters) - Singapore's CapitaLand Investment CAPN.SI said on Wednesday it would acquire a 40% stake in SC Capital Partners Group (SCCP) for S$280 million ($209.31 million), while also invest a minimum of S$524 million in the company.
CapitaLand's 40% stake acquisition in SCCP, a Singapore-based real estate investment manager, will increase its funds under management $(FUM.UK)$ by S$11 billion. The transaction will boost CapitaLand's presence in its focus market, Japan, where 76% of the S$11 billion FUM are located, the company said.
According to the company's statement, the deal will place CapitaLand as a strong real asset manager in the Asia Pacific region, with a combined FUM of S$113 billion.
CapitaLand will fund its initial investment of the 40% stake through cash, with the deal expected to close in the first quarter of 2025.
It will acquire the remaining 60% stake in SCCP in phases over the next five years, it said. SCCP will continue to operate independently until CapitaLand completes its acquisition.
($1 = 1.3377 Singapore dollars)
(Reporting by Sherin Sunny in Bengaluru; Editing by Shilpi Majumdar and Alan Barona)
((Sherin.Sunny@thomsonreuters.com;))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。