SINGAPORE: Indonesia-born tycoon Oei Hong Leong plans to stay on as NatSteel Ltd’s largest shareholder, despite losing a bruising takeover battle to hotel magnate Ong Beng Seng for the cash-rich steel miller.
Oei, who has spent S$227mil for a near-30% stake in NatSteel, said in a statement yesterday he would not accept Ong’s offer of S$2.06 a share for the company.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
