Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Union Steel Holdings Limited ( (SG:ZB9) ) has shared an announcement.
Union Steel Holdings Limited has announced that its wholly owned subsidiary, Union Engineering Pte Ltd, has entered into a non-binding memorandum of understanding with Eneco Singapore Pte. Ltd. for the proposed disposal of its entire stake in Fastweld Engineering Construction Pte. Ltd. The parties have agreed to an exclusivity period of up to 180 days to conduct due diligence and negotiate a definitive sale and purchase agreement, signalling a potential divestment that could reshape Union Steel’s portfolio mix and capital allocation, though the transaction remains subject to further negotiations and is not yet legally binding.
More about Union Steel Holdings Limited
Union Steel Holdings Limited, listed on the Mainboard of the Singapore Exchange, operates through subsidiaries including Union Engineering Pte Ltd, which is engaged in investment holding activities and owns 100% of Fastweld Engineering Construction Pte Ltd. The group’s structure positions it to manage and dispose of investments in operating subsidiaries as part of its broader corporate and portfolio strategy.
Average Trading Volume: 12,921
Technical Sentiment Signal: Buy
Current Market Cap: S$67.93M
See more insights into ZB9 stock on TipRanks’ Stock Analysis page.