OUE in talks with possible buyer for US Bank Tower

The company clarified that there is no assurance that the talks will result in any sale.

OUE Limited has engaged in ‘non-binding exploratory discussions’ with a prospective buyer on a confidentiality basis for the possible sale of US Bank Tower, the company announced in an SGX filing.

OUE clarified that there is no assurance that the ongoing negotiations will result in any sale of the property.

“Although  negotiations  with  the prospective purchaser are currently underway, there is no assurance whatsoever that these ongoing negotiations will result in any definitive or binding agreement with the prospective purchaser being reached in relation to the proposed sale, nor as to the terms of such proposed sale,” OUE stated in the announcement.

The company added that it will make an appropriate announcement should it enter into any definitive agreement regarding the sale of US Bank Tower.

OUE first announced that it began marketing the Los Angeles property for a proposed sale on 25 January 2019.