Fincantieri extends exit offer for Vard to Sept 19

Fincantieri currently has effective control over a 94.20 per cent stake in Vard.
Fincantieri currently has effective control over a 94.20 per cent stake in Vard.PHOTO: VARD HOLDINGS

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.