OUE launches takeover of International Healthway Corp

PROPERTY group OUE has launched a takeover offer for International Healthway Corporation (IHC) at 10.6 Singapore cents per share, the two companies said in separate Singapore Exchange filings on Thursday.

That came after OUE agreed on Thursday to buy another 35.77 per cent stake in IHC from four sellers: Ching Chiat Kwong, Low See Ching, Low Bee Lan Audrey and Tee Wee Sien.

That acquisition would bring OUE's stake in IHC up to 57.6 per cent, OUE said.