Oei Hong Leong woos Intraco again after cashing out
Just as the Heineken deal for Asia Pacific Breweries took a surprising turn on Tuesday, the sale of a stake in trading firm Intraco also saw an unexpected development, albeit on a smaller scale.
Businessman Oei Hong Leong on Tuesday re-entered the fray when he said he wanted to buy Hanwell Holdings' 29.89 per cent stake in Intraco for 63 cents each.
This is the same stake Hanwell had agreed to sell to the family investment vehicle TH Investment that controls crane operator Tat Hong Holdings early in June.
Then, Hanwell had announced it was selling the stake in Intraco for 62 cents a share, or $18.28 million in all. At 62 cents, the price was more than twice Intraco's last traded price then, of 30 cents.