ABG SHIPYARD BUYS 15% IN GREAT OFFSHORE VIA OPEN OFFER

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Integrated offshore oilfield services provider Great Offshore said that ABG Shipyard has acquired more than 15.23% stake in the company for Rs 294.05 crore through open offer route. ABG Shipyard acquired over 56.54 lakh equity shares, representing 15.23% shareholding in Great Offshore at Rs 520 per share, the company said in a filing to BSE. ABG Shipyard had made the open offer for acquiring 1,25,71,072 fully paid up equity shares representing 32.12% in Great Offshore at Rs 520 per share. Bharati Shipyard and ABG Shipyard were in a neck and neck takeover battle for Great offshore, a company created through demerger of the offshore business of Great Eastern Shipping.

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