Vard Holdings privatisation offer turns unconditional

Singapore

MAINBOARD-LISTED shipbuilding firm Vard Holdings said on Thursday that the privatisation offer from its Italian parent group Fincantieri Oil & Gas has been declared unconditional, following a reduction of acceptance condition.

Fincantieri has obtained consent from the Securities Industry Council to reduce the acceptance condition to a level of more than 50 per cent, down from a level of over 90 per cent.