Raffles United on Wednesday bought 73.2 million shares in
mainboard-listed Kian Ho Bearings Ltd, representing a
31.27 percent stake in the bearings distributor, from crane
supplier Tat Hong Holdings Ltd SI> in a married deal, the
Business Times reported.
This boosted the stake of Raffles United and its concert
parties to 52.65 percent in the target company, triggering a
mandatory unconditional cash offer which Raffles United will
have to make for all the Kian Ho shares it does not already own.
NOTE: Reuters has not verified this story and does not vouch
for its accuracy.
(Compiled by Singapore Newsroom; Editing by Prateek Chatterjee)