CDL to sell majority stake in South Beach office complex to cut debt, source says

CDL to sell majority stake in South Beach office complex to cut debt, source says

CDL called for a trading halt at 9.20am on June 4 pending release of an announcement. Read more at straitstimes.com.

Singapore billionaire Kwek family’s CDL to sell $2.1B office complex to reduce debt, restore investor confidence after public father-son feud - VnExpress International

City Developments will sell its majority stake in a landmark Singapore office complex as it aims to cut debt and regain investor confidence after a public feud between billionaire chairman Kwek Leng Beng and his CEO son. - VnExpress International

Singapore’s CDL to sell $2.75 bil office complex to cut debt

City Developments Ltd. agreed to sell its majority stake in one of Singapore’s most iconic office complexes, according to a person familiar with the matter, as the developer seeks to reduce debt and regain investor confidence after a family feud rocked the firm. CDL will sell its 50.1% stake in South Beach to minority owner IOI Properties Group Bhd, the person said, requesting not to be identified because the information is private. Malaysian de…