UOL clarifies that it is in talks to buy Sydney office property

PROPERTY developer UOL Group said on Thursday that it is currently in preliminary confidential discussions with a party on the possible acquisition of an office building in Sydney, Australia.

It clarified this after an Australian Financial Review article reported on the acquisition.

UOL said in a holding announcement to the Singapore Exchange: "The discussions are on-going, and no definitive terms or formal legal documentation have been agreed upon between the parties. Further, there is no certainty or assurance whatsoever that any transaction will arise from these discussions."