Treasury & Capital Markets
CapitaLand to divest 89.8% interest in Frankfurt center
Sale of 89.8% stake in Main Airport Center to CapitaLand Commercial Trust is based on an agreed property value of US$297 million, expected to be completed in third quarter of 2019
The Asset
17 Jul 2019
CapitaLand has, through its subsidiary and associated company, entered into an agreement with CapitaLand Commercial Trust ( CCT ) to divest 89.8% out of its 94.9% interest in the holding companies of Main Airport Center ( MAC ), a freehold commercial property in Frankfurt, Germany. Post transaction, CapitaLand will continue to hold a 5.1% stake, while CCT will own the remaining 94.9%.
