CapitaLand Investment (CLI) has issued a statement in response to a WSJ report about a potential merger with Mapletree Investments on Nov 3, saying it does not comment on rumours or speculation.
The Wall Street Journal published earlier in the day an article detailing the exploration of a merger between the CLI and Mapletree Investments, which it said was still in very initial stages.
It said that the two property developers are “likely to start laying the groundwork for the process as early as next year”.
The paper alleged that the process is part of recent moves by Temasek-owned entities to evaluate options for growing their businesses into larger, stronger global entities.
Temasek Holdings owns 100% of Mapletree Investments and 54% of CLI.
CLI said that it remains firmly committed to delivering long-term value for its shareholders and in the ordinary course of its business, it regularly explores and evaluates various investment opportunities that align with its strategic objectives.
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“We are aware of recent market speculation. As a matter of policy, CLI does not comment on rumours or speculation,” the release reads. “Should there be any matters requiring disclosure, CLI will make the announcements in accordance with the listing manual of the SGX-ST.”
Shares in CLI closed 2 cents higher or 0.758% up at $2.66 on Nov 3.
