SINGAPORE (Dec 30): Yanlord Investment (Singapore) announced Monday it is extending the closing date of its mandatory conditional cash offer for United Engineers’ (UEL) shares to 5.30pm on Jan 20, 2020.

The offer had been scheduled to close at 5.30pm today, after an extension from Dec 26.

A wholly-owned subsidiary of China-based property developer Yanlord Land Group, Yanlord Investment had offered to pay $2.70 for each UEL share, valuing the property firm at $1.72 billion.

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