United Engineers

[Behappyalways]

United Engineers Said to Seek Bids for Century-Old Company
https://www.bloomberg.com/news/articles/...perty-firm

[cyclone]

KKR, Samling Shortlisted in Bid for Singapore Property Group United Engineers: Sources

KKR & Co. and Malaysian conglomerate Samling Group are among suitors shortlisted in the bidding for United Engineers Ltd., the century-old Singapore property group, people with knowledge of the matter said.

Perennial Real Estate Holdings Ltd., Ascendas-Singbridge Pte and an investment vehicle of Malaysian tycoon Lee Ming Tee were also invited to start due diligence, according to the people. Final bids for United Engineers, which has a market value of S$1.9 billion ($1.3 billion), are expected to be submitted around the end of March, the people said, asking not to be identified because the information is private.

More details in https://www.bloomberg.com/news/articles/...-engineers

[Behappyalways]

JOINT ANNOUNCEMENT: OCBC GROUP'S SHAREHOLDINGS IN UNITED ENGINEERS LIMITED AND WBL CORPORATION LIMITED
http://infopub.sgx.com/FileOpen/Anno_OCB...eID=461101

[mon]

Both UEL and Perennial Real Estate Holdings Limited are on trading halt.

[egghead]

Yanlord also halted. Coincidence?

[Boon]

JOINT ANNOUNCEMENT: OCBC GROUP'S SHAREHOLDINGS IN UNITED ENGINEERS LIMITED AND WBL CORPORATION LIMITED 
http://infopub.sgx.com/FileOpen/OCBC_GEH...eID=461102
________________________________________________________________________________________________________________________

[MINX]

Yanlord also halted.  Coincidence?

Yanlord & Perennial hold hands to bid for United Engineer...

[valerene]

Yanlord, Perennial consortium offers to acquire United Engineers at S$2.60
After 2 days of trading halt, the consortium comprising Yanlord (49%), Perennial
and its sponsors (45%), and Heng Yue Holdings Limited (6%) will acquire a
33.5% stake in United Engineers at S$2.60/share from OCBC Group, triggering
mandatory offer for the remaining ordinary shares and preference shares in UE.
The consortium also acquired 10% interest in WBL Corporation Limited at S$2.07/
share, and may acquire another 19.9% of the stake. We note that the offer price
for UE represents a 4.1% discount to its stock price before the trading halt, and
a 15% discount to the latest book valuation of S$3.06/share. The offeror intends
to maintain the listing status of United Engineers and will re-evaluate its position
should United Engineers not meet the minimum public float requirement on the
Closing Date of the Offers

[cyclone]

120,265,000 / 45,321,200 = 2.65

Oxley Holdings Limited announced that the Company had, through open-market purchases, acquired an aggregate of 45,321,200 ordinary shares in United Engineers Limited ("UEL"). The acquired shares constitute 7.11% of the total issued and paid-up share capital of UEL.

The total consideration for the acquired shares was S$120,265,000, based on the transacted market prices.

[cyclone]

5,358,174.53 / 1,987,800 = 2.6955
5,412,374.66 / 2,007,200 = 2.6965

On 22 August 2017, Oxley Holdings Limited acquired 1,987,800 Shares of United Engineers for a consideration of S$5,358,174.53.
On 23 August 2017, Oxley Holdings Limited acquired 2,007,200 Shares of United Engineers for a consideration of S$5,412,374.66.
Total voting shares held by Oxley Holdings Limited after these two purchases are 12.2% of total number of voting shares.