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UOL Group's Singapore Land bid to close early 2018

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UOL Group's Singapore Land bid to close early 2018

The offer of UOL Group Ltd. subsidiary UOL Equity Investments Pte. Ltd. for all the shares it does not already control in United Industrial Corp. Ltd. unit Singapore Land Ltd. is scheduled to close Jan. 3, 2018, at 5:30 p.m. Singapore time.

The schedule was included in the circular dispatched Dec. 6 to Singapore Land shareholders to detail the S$11.85 per share offer made by United Overseas Bank Ltd. on behalf of UOL Equity.

UOL Equity's offer for Singapore Land was lodged after UOL Group's shareholding in United Industrial increased to 50.025%, following a series of on-market and off-market acquisitions.

As of Dec. 6, US$1 was equivalent to S$1.35.