Fincantieri acquires further shares in Vard

Vard Promar shipyard in Ipojuca, Brazil. Image courtesy of Vard Holdings. Vard Promar shipyard in Ipojuca, Brazil.

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.

Last modified onMonday, 03 September 2018 13:25

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