CapitaLand Investment (SGX:9CI) agreed to acquire a 40% stake in SC Capital Partners for SG$280 million.
Over the next five years, CapitaLand will acquire the remaining 60% stake in phases to fully own SC Capital by 2030.
As part of the acquisition, CapitaLand will also invest a minimum of SG$524 million in SC Capital to support the real estate investment manager's growth.
CapitaLand's funds under management will increase to SG$11 billion following the initial acquisition.
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