The Ascott Ltd, a subsidiary of CapitaLand Investment (CLI), is reducing its stake in CapitaLand Ascott Trust (CLAS) by selling a 4.9% stake:

With the transaction, CLI’s holdings in Clas decreased to 24.04 per cent from 28.92 per cent.

Clas will no longer be a subsidiary of CLI, and will instead be accounted as an associate of its parent company.