CMT completed the merger with CCT.

CapitaLand Mall Trust Management, a real estate investment trust, completed the merger with CapitaLand Commercial Trust Management, a commercial real estate investment trust. CMT acquired all units of CCT for a total consideration comprising approximately 88% in new units in CMT and 12% in cash. The consideration per CCT Unit comprises 0.720 new CMT Units and S$0.2590 in cash. This implies a gross exchange ratio of 0.820. The combined company was renamed to CapitaLand Integrated commercial trust. “As the respective best-in-class players in retail and office with proven track records in value creation, CMT and CCT are heading to the Proposed Merger from a position of strength. This is a game-changer that will propel both CMT and CCT towards a higher and more sustainable growth trajectory beyond what is achievable with each REIT’s current focus on a single asset class. We are excited about the prospects for our future and the growth we can deliver for our combined group of unitholders, many of whom already hold stakes in both REITs today," Teo Swee Lian, CMT Chairman.