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OEL in non-binding pact to buy 51% stake in China healthcare firm

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Published Thu, Mar 12, 2020 · 09:50 PM

Singapore

CATALIST-LISTED OEL (Holdings) on Thursday said it has entered into a non-binding memorandum of understanding (MOU) for the proposed acquisition of a 51 per cent stake in Shanghai Longjian Hospital Management Co.

This comes after the property management company on Feb 12 said it plans to diversify into early childhood childcare and health education in Singapore, as well as the healthcare industry. OEL will need to seek shareholder approval for the proposed diversification.

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