Fincantieri acquires further shares in Vard

Vard Holdings recently announced that as at August 31, 2018, Fincantieri Oil and Gas (O&G) has agreed to acquire further shares in the company.

Fincantieri O&G, a subsidiary of Fincantieri, became the majority shareholder in Vard Holdings in 2013, at the time holding 79.34 per cent ownership.

Following the current acquisition, Fincantieri O&G will hold an aggregate of 1,111,030,861 shares in Vard, representing 94.16 per cent ownership in the company.