CapitaLand Investment (CLI) released a statement on November 3 addressing a Wall Street Journal (WSJ) report regarding a potential merger with Mapletree Investments, stating it does not comment on market rumors or speculation.
The WSJ article earlier outlined preliminary discussions between CLI and Mapletree Investments, noting the talks remain in very early stages. The report suggested the two property developers could begin preparatory work for the merger as early as next year.
According to the article, the potential merger aligns with Temasek-owned entities' broader strategy to consolidate businesses into larger, more competitive global players. Temasek Holdings fully owns Mapletree Investments and holds a 54% stake in CLI.
CLI emphasized its commitment to creating long-term shareholder value and routinely evaluates strategic investment opportunities. The company stated, "We are aware of recent market speculation. As a matter of policy, CLI does not comment on rumors or speculation. Should any material developments arise, CLI will disclose them in compliance with SGX-ST listing requirements."
On November 3, CLI shares closed at $2.66, up 0.758% (2 cents) from the previous session.