CapitaLand raises offer price to CapitaMalls Asia

SINGAPORE Thu May 15, 2014 8:42pm EDT

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SINGAPORE May 16 (Reuters) - CapitaLand Ltd has raised its offer to take over the remaining shares of CapitaMalls Asia Ltd to S$2.35 from S$2.22, the company said on Friday.

CapitaLand, Southeast Asia's largest property developer, said it will not further revise the offer price, and has extended the closing date of the offer from May 26 to June 9.

The offer has become unconditional, CapitaLand said.

CapitaLand owns 65.3 percent of CapitaMalls Asia, and had received valid acceptances to shares amounting to about 2.6 percent of the total issued share capital of the shopping mall developer, CapitaMalls said in a statement.

(Reporting by Rujun Shen; Editing by Stephen Coates)

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