CDL unit buys Thai firm for S$202.9 million

A unit of City Developments Ltd has acquired Thailand Shareholder Investments for US$157.6 million (S$202.9 million).

Vinemont Investments, an indirectly owned unit of City Developments, bought the company from Real Estate Capital Asia Partners, the Dow Jones news agency reported.

Thailand Shareholder Investments has shopping mall interests in retail and hotel properties in Bangkok and Phuket island in Thailand, the report said.

Source : Today – 13 Jan 2012

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