0822 GMT - CapitaLand India Trust appears to be in the advanced stages of several divestments, OCBC Investment Research's Donavan Tan says in a report. The India-focused property trust has expressed confidence in divesting itself of a minority stake in its data centers to a private fund sponsored by CapitaLand Investment, the analyst notes. The divestment will reduce its share of costs for five planned data-center developments to S$670 million from S$1 billion. The trust's management also expects to complete the divestment of the CyberPearl and CyberVale properties in India by end-February. However, OCBC trims the fair value estimate to S$1.27 from S$1.28 to reflect adjustments, including an increase in its risk-free rate assumption to 2.75% from 2.50%. It maintains a buy rating on the units, which are 1.0% lower at S$1.02. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 31, 2025 03:22 ET (08:22 GMT)
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