CapitaLand divests 50% stake in Laguna Garden
It will also be divesting 50% stake in Sims Park.
CapitaLand Limited announced that its wholly-owned subsidiaries, CRL Realty Pte Ltd and Zircon Land Private Limited have divested their respective 50% stake in Laguna Garden Limited and Sims Park Pte Ltd to its existing shareholders.
The total cash consideration for the Divestment was $4m.
The two firms are property development companies which developed the condominiums known as Casafina and Central Grove respectively which were completed and fully sold.
Following the Divestment, LG and SP have ceased to be associated companies of CapitaLand.