Corporate digest

OUE Limited

PROPERTY group OUE has inked a deal to raise its stake in OUE Commercial Reit to 64.98 per cent, it said in a Singapore Exchange filing on Tuesday. Its wholly owned unit Clifford Development has agreed to pay S$165.97 million in cash to buy about 203.15 million units in OUE C-Reit from Gordon Tang, OUE said, adding that the purchase price was at a discount of about 14 per cent to the net tangible asset value per unit of S$0.95 as at Dec 31, 2015. However, the purchase price works out to about $0.817 per unit, which was above the closing price of S$0.645 for OUE C-Reit units on Tuesday.

Temasek Holdings