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Fincantieri ups stake in shipbuilder Vard to 79.69%

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Published Tue, Dec 19, 2017 · 09:50 PM

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    Singapore

    MAINBOARD-listed Vard Holdings announced on Tuesday that majority shareholder Fincantieri SpA has, through a subsidiary, increased its stake in the company to 79.69 per cent, through shares acquired on Dec 18 at S$0.25 apiece.

    The acquisition is part of Fincantieri's announcement that it wants to privatise shipbuilder Vard, and brings the Italian company's holdings in Vard to around 940 million shares as at 5pm on Dec 18.

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