CapitaLand announces completion of Ascendas Innovation Hub transaction

AIH Co ceased to be an associate company of CapitaLand after the completion.

CapitaLand has announced the completion of the Ascendas Innovation Hub transaction, pertaining to the sale of 80% interest in Xi An Ascendas-Science Technology Investment Co. (AIH Co) to CRCT Investment, a wholly owned subsidiary of CapitaLand China Trust (CLCT).

The sale was made by Ascendas China Business Parks Fund 4 through Xi An Business Park III.

According to the announcement, AIH Co has ceased to be an associated company of CapitaLand following the AIH completion.

However, CapitaLand will continue to have an interest in AIH Co through its interest in CLCT. It has a deemed interest in CLCT of approximately 30.8% as of writing.

CapitaLand also has a 23% interest in Ascendas China Business Parks Fund 4.