UDL private placement

PUBLISHED : Friday, 12 February, 1993, 12:00am
UPDATED : Friday, 12 February, 1993, 12:00am

DREDGING and construction company UDL Holdings has announced a private placement of 92 million shares to raise about $142.6 million to buy up the shareholdings of Nicetrand Developments from Dynamic Holdings.

Through this deal, UDL will become the owner of two ailing firms - specialist steel firm Argos Engineering and Heavy Industries and electrical firm Kenworth Engineering.