UE said to be in final stages of Wearnes Auto sale
Property company is itself in play, divesting its non-core assets
AFTER looking for some time for the right buyer, property and engineering conglomerate United Engineers (UE) is reportedly close to selling its automotive business, Wearnes, for as much as S$450 million.
The company has been divesting non-core assets. UE said earlier in August that it is divesting indirect subsidiary MFS Technology for S$124 million.
Wearnes distributes luxury cars in South-east Asia, including brands like Bentley, Bugatti, McLaren, Jaguar, Land Rover, Infiniti, BMW and Volvo.
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