CapitaLand and IOI Close to Buying Singapore $1.9 Billion One Raffles Place

CapitaLand Investment and IOI Properties are nearing a deal to buy an iconic office development in Singapore’s commercial core, per people familiar with the matter. No purchase price, terms, or timing were disclosed, but the reported acquisition effort is modestly positive for the bidders’ deal momentum.

Analysis

CapitaLand Investment and IOI Properties are nearing a deal to buy an iconic office development in Singapore’s commercial core, per people familiar with the matter. No purchase price, terms, or timing were disclosed, but the reported acquisition effort is modestly positive for the bidders’ deal momentum.