ABG acquires 15.2% stake in Great Offshore

ABG Shipyard, that had sold almost all of its stake in Great Offshore, has again acquired 15.2 per cent stake in the company through its open offer. It had made an open offer for 33 per cent stake in Great Offshore at Rs 520 a share and has shelled out Rs 280 crore for the 15.2 per cent stake.

Though analysts state that it may either sell this stake to Bharati or offload it in the open market at a higher price, ABG will now get a representation on the board of Great Offshore as any investor over 10 per cent is normally entitled to.

(Source: www.schednet.com)