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Fincantieri taking Vard private amid adverse O&G market

Vard, one of the largest global shipbuilders of offshore and speciaIised vessels, has reported a third-quarter net loss attributable to equity-holders of 80 million Norwegian kroner (S$13.4 million).


THE current adverse oil & gas (O&G) market conditions have strengthened Fincantieri Group's long-held view that it should bring Singapore-listed subsidiary Vard Holdings fully under its fold. The Italian shipping group, which through Fincantieri Oil & Gas S.p.A holds...

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