Fincantieri extends exit offer for Vard to Sept 19
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Fincantieri currently has effective control over a 94.20 per cent stake in Vard.
PHOTO: VARD HOLDINGS
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SINGAPORE - Fincantieri Oil & Gas has extended the deadline on its buyout offer for Vard Holdings by two weeks, to 5.30pm on Sept 19.
Fincantieri, which is offering $0.25 per Vard share to take the shipbuilder private, currently has effective control over a 94.20 per cent stake in Vard.
Vard's shareholders approved the delisting in July. The counter last traded at $0.25 on Wednesday before the extension was announced.
