ABG Shipyard picks up additional stake in Great Offshore
ABG Shipyard has announced that it has further raised its stake in the Great Offshore on July 30, 2009.
The company acquired 212,348 shares constituting 0.57% stake of Great Offshore at an average price of Rs 450 per share.
With this acquisition, its stake in the exploration services major has increased to around 8%.
On Wednesday, the company has acquired 5.19% stake in Great Offshore and also raised the open offer price from Rs 375 per share to Rs 450 a share.
Last month, ABG had made an open offer to acquire up to 1,25,71,072 equity shares representing 32.12% of the diluted share capital of Great Offshore at Rs 375 per share through its wholly-owned subsidiary Eleventh Land Developers.
Comments
Leave a Reply