Lippo raised OUE stake via S$957mln deal

Lippo Group has raised its effective stake in Overseas Union Enterprise from 44 percent to almost 89 percent after buying out Malaysian billionaire Ananda Krishnan.

The Indonesian group purchased 23.85 percent direct stake in OUE and a 40 percent stake in OUE Realty from firms linked to Krishnan. Valued at S$11 per share, the deal is worth S$957 million.

Meanwhile Lippo will retain OUE's listing on the Singapore Exchange.

View the full story in Reuters.

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