Published:
Oxley acquires 7.11% stake in United Engineers
The acquisition is worth $120.3m.
Oxley Holdings announced that it has acquired an aggregate of around 45.3 million ordinary shares in United Engineers Limited (UEL)
According to the group, these acquired shares constitute 7.11% of the total issued and paid-up share capital of UEL.
The total consideration for the acquisition was $120.3m.
"The acquisition was undertaken by the group as part of its investments in income generating assets, and is in line with the investment objective of the Company," Oxley said in a statement.
It added, " The company will not be making a competing offer for UEL."
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