13 Jul '17, 4am

Yanlord, Perennial to make United Engineers offer

United Engineers owns a large portfolio of properties including shopping centres, hotels and condominiums. (Photo: Wikimedia Commons) After securing clarifications on the procedures for making a simultaneous bid for two companies from Singapore’s takeover council, a consortium including China-based developer Yanlord Land Group and Perennial Real Estate Holdings is looking to announce an agreement to acquire the stakes of Oversea-Chinese Banking Corp. in United Engineers as well as its WBL Corp. subsidiary, reported Bloomberg citing sources with knowledge on the matter. Thereafter, the group plans to make an offer for the rest of United Engineers, said the sources, who did not want to be identified. Shares of Yanlord, Perennial and United Engineers were halted from Singapore trading on Wednesday (12 July), pending announcements. An agreement would cap OCBC’s years-long effo...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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China's Yanlord Land, Perennial to acquire Singapore property group for $1.3 billion

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via @WSJ

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