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Perennial emerges as possible buyer for UEL

It has submitted proposal as part of a consortium; UEL and Perennial stocks surge by about 5 per cent

Published Thu, Jun 1, 2017 · 09:50 PM
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Singapore

UNITED Engineers Ltd (UEL) and its subsidiary WBL Corp Ltd are once again poised to be sold, and the proposed buyer is Perennial Real Estate.

UEL shares jumped to as high as S$2.78 before closing at S$2.76, up 13 cents or 4.9 per cent. Perennial also surged, to S$0.90, up 4.5 cents or 5.3 per cent.

Perennial said on Thursday that it had, as part of a consortium, submitted a proposal for UEL, which w…

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