CapitaLand Ascott Trust (SGX:HMN) completed the divestment of Citadines Central Shinjuku Tokyo hotel for 25 billion yen, according to a Thursday filing with the Singapore Exchange.
The divestment is at about 100% premium over the book value and around 40.4% above the average of two independent valuations.
The divestment is part of the trust's portfolio reconstitution strategy, with proceeds to be redeployed into more effective uses.
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