Share
SINGAPORE (July 14): A consortium led by Yanlord Land Group and Perennial Real Estate has acquired a 33.5% stake in United Engineers Ltd (UEL) at S$2.60 (RM8.11) per share and a 10% stake in WBL Corp for S$2.07 per share from OCBC Bank, Great Eastern Holdings and other vendors for S$729.7 million.
The Business Times report said the move has triggered a mandatory takeover for UEL.
The consortium said it may acquire another 19.9% stake in WBL at S$2.07 per share at a later date.
This article first appeared in The Edge Financial Daily, on July 14, 2017.
For more stories, download TheEdgeProperty.com pullout here for free.
TOP PICKS BY EDGEPROP
Jardin Residences @ Bandar Seri Coalfields
Sungai Buloh, Selangor
The Walden @ Bandar Seri Coalfields
Sungai Buloh, Selangor
Bandar Seri Coalfields
Sungai Buloh, Selangor
Jardin Residences @ Bandar Seri Coalfields
Sungai Buloh, Selangor
Norton Garden Semi D @ Eco Grandeur
Bandar Puncak Alam, Selangor
Avira Garden Terraces @ Medini
Iskandar Puteri (Nusajaya), Johor
The Grand @ Kelana Damansara Suite
Kelana Jaya, Selangor
