United Engineers shares jump amid talk of buyer interest
OCBC, Great Eastern evaluating expressions of interests over their stakes
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Singapore
UNITED Engineers Ltd (UEL) announced on Friday that its largest shareholders, OCBC and Great Eastern Holdings (GEH), have received and are evaluating non-binding expressions of interests over their combined stakes in the company.
UEL said that this is part of the strategic review OCBC and GEH had first announced in September, and that there is no certainty that any transaction will materialise or that any agreement will be entered into.
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