Yanlord-led consortium to acquire stakes in UE, WBL Corp for up to $730 mil

SINGAPORE (July 13): A group led by Yanlord Land, together with Perennial Real Estate, is making an offer to acquire a 33.5% stake in United Engineers at $2.60 each.

The group has acquired a 10% stake in WBL Corporation and is committed to acquire another 19.9% stake at a later date. If the group owns more than 50% of UE, an offer will be made to buy the remaining shares in WBL at the same price of $2.07.

Oversea-Chinese Banking Corporation and its insurance group Great Eastern Holdings are among the sellers of the shares.

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