OUE launches takeover offer for IHC

Singapore

INDONESIA'S Riady family is on a shopping spree of sorts.

Their mainboard-listed property group OUE on Thursday launched a surprise takeover offer for International Healthway Corporation (IHC), valuing the Catalist-listed nursing home owner at about S$175.9 million.

This comes just a week after OUE bumped up its stake in IHC to 21.83 per cent on Feb 8.

The latest move also comes hot on the heels of its Lippo Group conglomerate's S$103 million takeover offer on Feb 7 for IHC's related firm Healthway Medical Corporation (HMC).

And then there was also Lippo's S$48.3 million takeover bid for bread maker Auric Pacific Group, which also happened on Feb 7.

OUE said in a Singapore Exchange filing on Thursday evening that it has launched a mandatory unconditional cash offer for all the IHC shares it does not alread…