SINGAPORE: Singapore’s Oversea-Chinese Banking Corp is in talks to sell its stake in property firm United Engineers Ltd to a group controlled by Thai billionaire Charoen Sirivadhanabhakdi, two people familiar with the discussions said.
The move would help beef up capital for Singapore’s second biggest lender after its acquisition of Hong Kong’s Wing Hang Bank and also trigger a takeover offer for United Engineers, which has a market value of US$1.2bil.
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