CapitaLand to spin off CapitaLand Investment Management.

CapitaLand, a Singaporean multinational alternative asset management company, is set to spin off CapitaLand Investment Management, a newly-established entity that operates company's investment management platforms, as well as its lodging business. CapitaLand will continue to own a 52% interest upon listing of CLIM on SGX and will distribute remaining 48% to shareholders. The deal is part of restructuring process and is also meant to place the real estate development business of the group under private ownership and under the name of CLA Real Estate Holdings.