ARA said to clinch deal to purchase Capital Square office tower stake

SINGAPORE (Sept 15): ARA Asset Management has won the bid for a stake in Capital Square office tower in Singapore's central business district, according to people familiar with the matter.

ARA, which is listed in Singapore, is buying the 50% stake in the building that was put up for sale last year by Alpha Investment Partners, said the people, who asked not to be identified because the process is private.

The purchase will be concluded by month-end, one of the people said, without disclosing the price of the deal.

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