SingLand offer closes with UOL controlling 99.772% stake

UOL's mandatory offer for Singapore Land shares closed at 5.30pm on Jan 3 and is no longer open for acceptance.

UOL had earlier this year made the offer for all the SingLand shares it does not already own, at S$11.85 apiece in cash.

The obligation for UOL to make the mandatory offer was triggered under Singapore's takeover code last month when UOL and its concert parties attained statutory control of United Industrial Corporation (UIC), which in turn owns over 99 per cent of SingLand.

As at 5.30pm on Jan 3, UOL and its concert parties held 99.772 per cent of SingLand shares.