CapitaLand makes massive Asian expansion with $4bn Ascendas acquisition

Singapore Science Park Ascendas

CapitaLand has announced plans to acquire Singaporean real estate group Ascendas-Singbridge in a $4bn (£3.11bn) deal that it claims will create “Asia’s largest property group”.

The proposed cash-and-shares purchase from Singaporean state investment firm Temasek would give CapitaLand $86bn of assets under management in the region.

CapitaLand will buy the holding companies of the business of the Ascendas-Singbridge Group, which manages the Ascendas Real Estate Investment Trust, Ascendas India Trust and Ascendas Hospitality Trust alongside the management remit for a host of private funds.

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