Allen & Gledhill is advising Singaporean property developer CapitaLand Ltd. on a $2.4 billion buyout of its shopping mall operator arm CapitaMalls Asia Ltd.
CapitaLand is acquiring the 35 percent share it currently doesn’t own in CapitaMall, which operates 105 shopping malls in China, Singapore, Malaysia, Japan and India. As part of the deal, CapitaMall will be delisted from the Singapore Exchange.
The move is a part of a broader strategy by CapitaLand, announced in 2013, to simplify its corporate structure and focus its operations on Singapore and China.
Singapore partner Prawiro Widjaja is leading a team at Allen & Gledhill that includes Singapore partners Hilary Low, Christopher Ong and Daren Shiau, advising CapitaLand. Howse Williams Bowers partners Chia Ching Tan and Katherine Chuang are advising CapitaLand on Hong Kong law matters.
Allen & Overy is acting for CapitaMalls.
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