CapitaLand acquires additional 20% stake in CTD for $25.4 mil

SINGAPORE (Feb 13): CapitaLand announced Monday that its wholly-owned subsidiary, CLV Investment 5, has acquired an additional 20% interest in CapitaLand-Thien Duc Company (CTD) for a cash consideration of US$17.9 million ($25.4 million).

Following the acquisition from a party unrelated to CapitaLand, the Vietnam-incorporated CTD is now a 50%-owned associated company of CapitaLand.

In a filing to SGX on Monday, CapitaLand says the acquisition is “consistent with [its] strategy to increase its residential development portfolio in Vietnam”.

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