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Nikkei Markets

CapitaLand, seeking scale, buys real-estate group for $4.4bn

Deal will make it world's ninth-largest property fund manager

Besides Singapore and China, Capitaland has a large presence in countries such as Vietnam and Indonesia.    © Reuters

SINGAPORE (Nikkei Markets) -- Singapore property giant CapitaLand will buy a group of companies from state investment firm Temasek Holdings for $4.4 billion in a deal that will create Asia's largest real-estate fund manager.

CapitaLand's purchase of Ascendas-Singbridge, which manages several listed real estate investment trusts, follows recent mergers in Singapore's property fund management industry as it tries to build scale and expand globally.

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