The China-focused developer Yanlord Land Group is partnering with Perennial Real Estate Holdings in a bid for Singapore property group United Engineers, Bloomberg reported on Wednesday.
A consortium including Perennial and Yanlord plans to announce an agreement as soon as Thursday to buy Oversea-Chinese Banking Corp.'s stakes in United Engineers and its WBL Corp. subsidiary, Bloomberg reported citing people with knowledge of the matter.
It then plans to make an offer for the rest of United Engineers, the report said.
Shares of United Engineers, Perennial and Yanlord were halted from Singapore trading Wednesday, pending announcements.
