CapitaLand is divesting its 30 per cent stake in Menara Citibank, a 50-storey office tower in Kuala Lumpur's Jalan Ampang, for a consideration of RM$176 million (US$52 million). Upon completing the divestment, CapitaLand will recognise a gain of about $22.1 million (US$15.6 million).CapitaLand owns the asset through its stake in Inverfin Sdn Bhd, whose principal asset is Menara Citibank. The Singapore-based property giant is making divestment along with all the other shareholders of Inverfin, who are selling their respective shareholdings in Inverfin to IOI Corporation Berhad.
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