UE E&C bidder cracks holdout, garnering stake of 92.61%
Substantial shareholder Singapore Tong Teik has either fully or partially sold its 9.2% interest
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
PRIVATE equity firm Southern Capital has garnered a stake of 92.61 per cent in UE E&C, paving the way for it to compulsorily acquire the rest of the engineering and construction company.
The offeror's late announcement on Tuesday meant that it had acquired an additional interest of 11.46 per cent since Monday, when it had just 81.15 per cent of shares in its control.
Copyright SPH Media. All rights reserved.
TRENDING NOW
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
Singaporeans can now buy record amount of yen per Singdollar
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Keppel DC Reit posts 13.2% higher Q1 DPU of S$0.02833 on strong portfolio performance
