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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s CICC demotes senior bankers, cuts pay to slash costs
China’s Sinopec in talks for gas offtake, stake in Canada’s Cedar LNG
Chinese tariffs could leave cognac makers with too much brandy
Citi promotes Damien Tan to corporate banking head for Singapore
Coffee variety is priciest since 1970s in blow to instant brews
South Korea’s probe alleges 211.2 billion won of illegal short trades