OUE reveals grand plans behind F&N bid

Gobbling up F&N provides much-needed regional presence.

OUE has announced that it has put forward a volutonary conditional cash offer for all the issued and paid-up ordinary shares in the capital of F&N at S$9.08 for each F&N share.

"Upon completion of the APBL Disposal and divestment of the F&B business, F&N will become primarily a property player. The Offeror (OUE) views F&N as one of the leading integrated property companies in Singapore with a strong track record of success and a highly attractive property portfolio, which is complimentary to OUE's existing property portfolio. Combining both portfolios will further establish OUE as a leading property player in Singapore and expand OUE's footprint in Singapore and regionally," explained OUE as the rationale for the offer and its intentions for the company.