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CapitaLand ditches stakes in investment holding company Keisha

Singapore Business Review
CapitaLand ditches stakes in investment holding company Keisha

It earned around $322 in the transaction.

CapitaLand announced that its wholly-owned subsidiary CapitaLand LF Holdings has sold its shares in Keisha Limited for $322m. Its 63% stake in the said company was sold to Rosy Investment One Pte. Ltd, an associated company of CapitaLand.

The cash consideration, which is equal to US$231m, will be paid in installments over two years in accordance with an agreed payment schedule.

The group said this transaction allows it to recycle capital and redeploy the available proceeds to other investments.

Following the transaction, CapitaLand does not retain control of Keisha, ceasing as its wholly-owned subsidiary.



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