UOL / UIC

UOL / UIC: On 19 Jun13, UOL Group bought another 642,000 shares (at $3.06 per share) in UIC and lifted its stake slightly to 43.5% (from 43.4%). UOL Group and JG Summit were in a takeover tussle for UIC for the last 8 years, and both had been accumulating shares of UIC in the market since then. Separately, we recall that UIC has been accumulating its stakes in Singapore Land, raising its stakes to 80.12% in recent week. In the light of the ongoing privatization of Pan Pacific Hotels by UOL, market watchers are touting a possible restructuring theme surrounding the unwinding of the Wee’s family cross-holding companies, which includes the likes of UOL, Haw Par, UIC and Singapore Land.