In January 2008, CapitaLand made an offer to acquire the remaining shares of The Ascott Group (Ascott) that it did not already own.
CapitaLand’s offer was successfully completed and it now fully owns Ascott. As a result, Ascott is privatised and is no longer listed on the Singapore Exchange Securities Trading Limited as of 29 April 2008.
Ascott’s core business remains unchanged with the privatisation. As a business unit of CapitaLand, Ascott will enjoy greater ease in tapping CapitaLand’s more established real estate development and financial services to grow its p resence globally and strengthen its leadership position in the market.