UE offer: Yanlord and Perennial cut another curious deal
Add BT as a preferred source
Singapore
PERENNIAL Real Estate Holdings has just sold all its shares in United Engineers (UE) to Yanlord Land for zero profit, at a price below market. This is not what companies usually do, unless cash is an issue or confidence has been lost in the investment.
The truth may be neither of those things, once you account for the 25.3 per cent gain that Perennial has made by flipping its shares in UE subsidiary WBL Corp over to Yanlord as part of the package.
TRENDING NOW
Orchard plot, Jurong East EC, Raffles Town Club site among 10 new housing parcels in H2 GLS plan
Geopolitical risks must be considered before investing in tech: Temasek chairman Teo Chee Hean
Don’t just pump money – Temasek’s portfolio firms, markets must create inherent value: Teo Chee Hean
Indonesia’s commodity export shake-up sparks industry alarm, investor jitters
