04 Jul 2018
Sale of five logistics properties in Singapore to Mapletree Logistics Trust
Partners Chia Kim Huat, Elsa Chai and Benjamin ST Tay are acting as counsel for CWT Pte. Limited. (a wholly-owned subsidiary of Chinese conglomerate HNA Group) and its related companies (collectively “CWT”) in the sale of five logistics properties in Singapore for an estimated sale price of S$730 million to Mapletree Logistics Trust. The sale price excludes the estimated upfront land premium for the balance lease terms payable by Mapletree Logistics Trust to Jurong Town Corporation of S$48.3 million. Upon completion of the sale, CWT will leaseback the properties from Mapletree Logistics Trust. The sale and leaseback is subject to approval of Jurong Town Corporation and this matter is slated for completion in the later part of this year.