Ties with Lippo had crumbled; TV issue may still go through Indonesian courts THE sale of a 44 per cent interest in Overseas Union Enterprise (OUE) for $957 million will bring closure to a five-year partnership between two South-east Asian tycoons that went sour. But it is unlikely to catalyse the resolution of any business differences that remain. On Tuesday, Indonesian James Riady's Lippo group doubled...
Ananda Krishnan
INDONESIA'S Lippo Group, controlled by the Riady family, is buying Malaysian tycoon Ananda Krishnan's key stake in Singapore-listed Overseas Union Enterprise (OUE) in a deal worth $957 million. Since 2006, the two parties have jointly controlled OUE, whose prized assets include the Mandarin Orchard hotel. However, Lippo and Mr Ananda are said to have suffered strained relations in recent times in various...
The tenuous alliance between Indonesia's Riady family and Malaysian tycoon Ananda Krishnan in Overseas Union Enterprise (OUE) has come to an end - at a price of almost $1 billion. Yesterday, the Riadys' Lippo Group paid some $957 million to acquire all of Mr Krishnan's stake - and greater control - in the mainboard-listed property group. With the deal, Lippo's direct and indirect interests in OUE rose to...