25 Mar 2014

Ascott Investment Holdings Ltd - Divestment of Interest in Island City Pte. Ltd

Danny Lim, Chia Lee Fong and Caitlin Huang from the Corporate & Capital Markets Practice acted as counsel to Ascott Investment Holdings Ltd (the "Company") in its divestment of 30% shareholding interest in Island City Pte. Ltd. to DBS Trustee Limited in its capacity as trustee of Ascott Residence Trust, for a cash consideration of approximately JPY 0.7 billion (approximately S$9.1 million). The Company is a wholly-owned subsidiary of CapitaLand Limited.