Yanlord's UE takeover offer turns unconditional
Chinese property developer had acquired an additional 9.4 per cent stake in UE, lifting it to 51.47% and crossing the 50% threshold
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Sharanya Pillai
Singapore
THE takeover offer of Chinese real estate player Yanlord Land Group for all ordinary shares of United Engineers (UE) has turned unconditional, with the offeror's stake in UE crossing the 50 per cent threshold.
In a bourse filing on Saturday, Yanlord announced that its unit, Yanlord Commercial Property Investments, had acquired an additional 9.4 per cent stake in UE a day earlier, by purchasing 59.9 million shares of UE from the open market at the S$2.70 offer price.
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