SINGAPORE Aug 21 Oversea-Chinese Banking
Corporation Ltd and its subsidiary Great Eastern
Holdings Ltd said on Thursday they are in talks to
sell their stakes in engineering and property firm United
Engineers Ltd (UEL).
"OCBC Bank and GEH wish to announce that they have been
approached by a party in connection with a possible transaction
relating to their combined stakes in UEL and WBL Corporation
Limited ("WBL")," said a joint statement by OCBC and Great
Eastern Holdings. WBL is a subsidiary of the property and
engineering firm UEL
Earlier, people familiar with the matter said OCBC was in
talks to sell its stake in UEL to a group controlled by Thai
billionaire Charoen Sirivadhanabhakdi.
(Reporting by Rujun Shen; Editing by Miral Fahmy)