SINGAPORE (June 21): CapitaLand announced Wednesday that wholly-owned subsidiary CVH Sparkle has divested its entire 65% stake in Vietnam-based real estate development business Sparkle Value Homes Co. (SVH) for US$4.6 million ($6.4 million).

SVH has a net asset value of US$3.4 million, according to management accounts as of May 31, 2017.

In a filing to SGX, CapitaLand says the divestment is part of its ongoing strategy to enhance capital productivity.

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