UDL spin-off

PUBLISHED : Monday, 24 March, 1997, 12:00am
UPDATED : Monday, 24 March, 1997, 12:00am

Construction company UDL Holdings will spin off its wholly owned subsidiary UDL Kenworth Engineering (KEL) by issuing 100 million new KEL shares.


The proceeds will be about $100 million and UDL will hold 75 per cent in KEL after the separate listing.