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Update: Market Chatter: CapitaLand, IOI Near SG$2.4 Billion Deal for One Raffles Place

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CapitaLand Investment (SGX:9CI) and IOI Properties (KLSE:IOIPG) are close to jointly acquiring the landmark One Raffles Place office complex in Singapore, Bloomberg News reported Thursday, citing people familiar with the matter.

The transaction, valued at roughly SG$2.4 billion, would see the two firms partner to purchase the twin-tower development, which includes retail space, the report said.

OUE REIT (SGX:TS0U) controls an 81.54% stake in the asset, while UOB (SGX:U11) holds the remaining 18.46%, according to the report.

CapitaLand declined to comment. IOI, OUE REIT, and UOB did not immediately respond to' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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