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OUE says group approached to purchase UE shares but is not in talks

Benjamin Cher Published on Wed, Oct 05, 2016 / 11:56 AM GMT+8

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SINGAPORE (Oct 5): OUE says the company "has been approached" to purchase shares in United Engineers.

But OUE says there was no ongoing discussions and there was no assurance that any definitive or binding agreement for the purchase of UE shares by the company will be reached.

OUE made the clarification after Bloomberg reported last night that OUE, backed by the billionaire Riady family, was planning to pursue a stake in UE.