The Marina Mandarin Singapore and parts of the Marina Square complex are changing hands for S$675.3 million, under a deal last Friday involving firms linked to tycoon Wee Cho Yaw. United Industrial Corp (UIC) is buying out Finnegan Investments and Mackmoor, as well as mainboard-listed OUE. The whole Marina Square mall will then be owned jointly by UIC and parent UOL Group. UIC is coughing up that sum...
UOL Group (UOL), the property firm controlled by United Overseas Bank chairman Wee Cho Yaw, has raised further its interest in United Industrial Corp (UIC). On Friday, wholly-owned subsidiary UOL Equity Investments bought 50,000 shares in UIC in the open market for S$2.40 each, raising UOL's interest in UIC to 42.024 per cent. The purchase comes two days after UOL boosted its stake in UIC to 42 per cent...
Current situation provides company with cheaper way of exploiting synergies DID United Overseas Land (UOL) really "fail" in its attempt to take over United Industrial Corporation (UIC)? Most market observers suspect that UOL was never really that serious with its general offer to buy over shares it did not already own. Instead, they felt the offer was more of a technical one. After all, it was mandatory...
An independent assessor has thrown a spanner in the works in UOL Group's takeover bid for United Industrial Corp. After evaluating the offer, Dutch bank ING said UOL's offer price for UIC shares is "not fair". On January 14, UOL had proposed to pay S$1.20 for each UIC share. This represents a nine per cent premium over UIC's last traded price prior to the announcement. The bid for UIC revived long-time...
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