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BRIEF-Capitaland Mall Trust Announces Proposed Merger Of CMT & Capitaland Commercial Trust

Reuters SG

Jan 22 (Reuters) - Capitaland Mall Trust:

* ANNOUNCE PROPOSED MERGER OF CMT AND CAPITALAND COMMERCIAL TRUST

* MERGER IS TO BE EFFECTED THROUGH ACQUISITION BY CMT OF ALL ISSUED AND PAID-UP UNITS IN CCT

* AGGREGATE SCHEME CONSIDERATION COMPRISES S$999.1 MILLION IN CASH & 2,777.5 MILLION NEW CMT UNITS ISSUED AT PRICE OF S$2.59 PER CMT UNIT

* MERGER EXPECTED TO BE DISTRIBUTION PER UNIT ACCRETIVE TO CMT UNITHOLDERS

* CONSIDERATION FOR EACH CCT UNIT COMPRISES 0.720 NEW UNITS IN CMT AND $0.2590 IN CASH

* MERGER PROVIDES A DPU ACCRETION OF 1.6%

* MERGER EXPECTED TO BE DISTRIBUTION PER UNIT ACCRETIVE TO UNITHOLDERS OF CCT AS WELL Source text for Eikon: Further company coverage: