UEL shares jump as OCBC, Great Eastern review stake options
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Singapore
SHARES in United Engineers Ltd (UEL) jumped to a 14-month high after OCBC Bank and an affiliate said that they were reviewing options for their combined stake in the century-old Singapore property and construction company.
OCBC; its insurance arm, Great Eastern Holdings Ltd; and the bank's founding Lee family are working with an adviser to start gauging interest, people familiar with the matter said, asking not to be identified as the deliberations are private.
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