<article>China-based Yanlord Land Group and Perennial Real Estate Holdings said on Tuesday their more than $1 billion offer for a stake in Singaporean property firm United Engineers had lapsed.</article>

China-based Yanlord Land Group and Perennial Real Estate Holdings said on Tuesday their more than $1 billion offer for a stake in Singaporean property firm United Engineers had lapsed.
Yanlord received shareholder acceptances representing just 1.4 percent of the total number of United Engineers ordinary shares, Yanlord and Perennial said in a joint statement.
The deal had valued United Engineers and a unit at about S$1.83 billion ($1.36 billion), in one of the biggest property takeover deals in Singapore in recent years.
Singapore&#8217;s Oversea-Chinese Banking Corp and its insurance arm in July agreed to sell their stakes in United Engineers to a group led by Yanlord Land and Perennial.
<h4>Reuters</h4>

Yanlord Land Group and Perennial Real Estate said their more than $1 billion offer for a stake in Singaporean property firm United Engineers had lapsed.

China Yanlord Land-led offer for Singapore property firm lapses

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

China Yanlord Land-led offer for Singapore property firm lapses

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief