Deals
KKR, Samling Shortlisted in Bid for Singapore Property Group: Sources
- Perennial, Ascendas-Singbridge among suitors for property firm
- Malaysia tycoon Lee Ming Tee also picked to make final offer
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KKR & Co. and Malaysian conglomerate Samling Group are among suitors shortlisted in the bidding for United Engineers Ltd., the century-old Singapore property group, people with knowledge of the matter said.
Perennial Real Estate Holdings Ltd., Ascendas-Singbridge Pte and an investment vehicle of Malaysian tycoon Lee Ming Tee were also invited to start due diligence, according to the people. Final bids for United Engineers, which has a market value of S$1.9 billion ($1.3 billion), are expected to be submitted around the end of March, the people said, asking not to be identified because the information is private.