UOL upgraded to 'buy' on timely acquisition of Marina Centre
Stanislaus Jude Chan • • 2 min read
SINGAPORE (Apr 16): DBS Group Research is upgrading UOL Group to “buy” from “hold” and raising its target price by 20% to $8.58, after UOL’s 50%-owned subsidiary United Industrial Corporation (UIC) raised its stake in Marina Centre.
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SINGAPORE (Apr 16): DBS Group Research is upgrading UOL Group to “buy” from “hold” and raising its target price by 20% to $8.58, after UOL’s 50%-owned subsidiary United Industrial Corporation (UIC) raised its stake in Marina Centre.
UIC on Apr 12 announced it is acquiring the remaining 24.27% stake in Marina Centre Holdings (MCH) and 25% stake in Aquamarina Hotel (AHPL) for a total consideration of $675 million.
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