ABG Shipyard picked-up further stake in Great Offshore yesterday which took their stake up considerably, and subsequently, has upped their open offer price too.
Commenting on the issue, D Datar, CFO of ABG Shipyard, said that their stake in Great Offshore has gone up to 8%. He said the open offer price for Great Offshore has been revised to Rs 450 per share. However, he refused to comment if Punj Lloyd was a seller in the block deal.
Datar stated that the company’s eventual plan is to take management control of Great Offshore. He added that ABG Shipyard is ready to buy from parties willing to sell Great Offshore shares at Rs 450 per share.
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