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S$21.41 -0.4  -1.8%

Last Trade - 22/01/21

Large Cap
Market Cap £5.58bn
Enterprise Value £1.89bn
Revenue £8.98bn
Position in Universe 281st / 6123

OCBC says in talks to sell United Engineers stake

Thu 21st August, 2014 11:05am
SINGAPORE, Aug 21 (Reuters) - Oversea-Chinese Banking 
Corporation Ltd  OCBC.SI  and its subsidiary Great Eastern 
Holdings Ltd  GELA.SI  said on Thursday they are in talks to 
sell their stakes in engineering and property firm United 
Engineers Ltd (UEL)  UTES.SI . 
    "OCBC Bank and GEH wish to announce that they have been 
approached by a party in connection with a possible transaction 
relating to their combined stakes in UEL and WBL Corporation 
Limited ("WBL")," said a joint statement by OCBC and Great 
Eastern Holdings. WBL is a subsidiary of the property and 
engineering firm UEL 
    Earlier, people familiar with the matter said OCBC was in 
talks to sell its stake in UEL to a group controlled by Thai 
billionaire Charoen Sirivadhanabhakdi.  ID:nL4N0QR2HE   
 (Reporting by Rujun Shen; Editing by Miral Fahmy) 
 ((; +65-6403-5666; Reuters 
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