Charoen planning to start due diligence on United Engineers: sources
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Singapore
THAILAND'S richest man Charoen Sirivadhanabhakdi is poised to start examining the finances of United Engineers Ltd (UEL), people with knowledge of the matter say, laying the groundwork for a potential acquisition of the Singapore property and construction company.
Mr Charoen's TCC Top Enterprise Ltd plans to begin due diligence on United Engineers and its WBL Corp unit next week, the people said on Wednesday, asking not to be named as the process is private. Exclusive talks with minority shareholder Oversea-Chinese Banking Corp (OCBC) and its insurance arm will expire six weeks after due diligence starts, according to an August filing.
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