Russia says Syrian government controls 93 percent of Aleppo
MOSCOW, Dec 10 The Syrian government now controls 93 percent of Aleppo, Russian news agencies cited the Russian Defence Ministry as saying on Saturday.
* A sale would trigger takeover offer for United Engineers
* OCBC, related firms own about 36 pct of United Engineers (Adds background and share movement)
SINGAPORE Aug 27 Singapore's Oversea-Chinese Banking Corporation (OCBC) and its insurance arm said they are in exclusive talks with a company controlled by Thai billionaire Charoen Sirivadhanabhakdi to sell their stake in United Engineers Ltd.
OCBC and related companies own around 36 percent of United Engineers, valuing their combined stake at about $514 million at the stock's current price. News of the possible deal first broke last week.
A potential sale would also trigger a takeover offer for United Engineers, which has a market value of about $1.4 billion. Under Singapore rules, a company that acquires a stake of 30 percent in a listed firm must make a mandatory offer for the remaining shares.
OCBC and Great Eastern Holdings said on Wednesday the talks with TCC Top Enterprise Ltd, controlled by Charoen and his wife, are at a preliminary stage and the exclusivity agreement will last for six weeks.
OCBC's announcement comes a day after United Engineers said its subsidiary WBL Corporation was selling its luxury car business to StarChase Motorsports (Singapore) Pte Ltd for S$455 million($365 million).
Shares of United Engineers have risen by more than a fifth since last week. The stock rose as much as 2.5 percent in morning trade, before paring gains to trade up 1.1 percent, while the broader Singapore market was up 0.4 percent. ($1 = 1.2481 Singapore dollar) (Reporting by Aradhana Aravindan and Rachel Armstrong; Editing by Edwina Gibbs)
SOFIA, Dec 10 Four people were killed and another 12 were injured under the ruins of at least 20 buildings smashed after a cargo train carrying propane-butane derailed and exploded in the northeastern Bulgarian village of Hitrino, police said on Saturday.
Dec 9 President-elect Donald Trump said on Friday he would name Andrew Liveris, chairman and chief executive of Dow Chemical Co, to head the Manufacturing Council, a private sector group that advises the U.S. secretary of commerce.