Singapore Stock Market News
United Engineers Ltd - Comes into Play
StockFanatic
Publish date: Thu, 28 Aug 2014, 11:56 PM
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On 27 Aug, Overseas-Chinese Banking Corporation (OCBC SP) and Great Eastern (GE SP) announced that they are in talks with TCC Top Enterprise (TCC), which is controlled by the Charoen Group, regarding their direct stakes in both United Engineers (UEM SP) and WBL Corp Ltd (WBL).
TCC has also been granted a 6 week exclusivity period to conduct Due Diligence. If any deal eventuates, this trade should be more than just a simple IRR trade, offering optionality on the back of potential interlopers.
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