StarChase Motorsports S$455 million acquisition of Wearnes Automotive

Overview:

• StarChase Motorsports has acquired Wearnes Automotive—WBL Corporation's luxury automotive business—for S$455 million.
• WBL is a subsidiary of United Engineers (UE), which is listed on the Singapore Exchange, while StarChase is an entity associated with the Samling Group, a Malaysian conglomerate.
• The sale was part of UE's plan to exit from non-core business operations.

Katrin Kostadinova - Data analyst