UE said to be in final stages of Wearnes Auto sale
Property company is itself in play, divesting its non-core assets
Add BT as a preferred sourceAFTER 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.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Government to roll out more support measures should need arise amid Middle East situation: PM Wong
Seatrium surge leads Singapore stocks slightly higher on Tuesday; STI up 0.1%
Not retirement, but a rewiring and fresh perspectives post-DBS, says Piyush Gupta
