Fincantieri has raided the Singapore Exchange to resume the acquisition of shares in Vard Holdings after a three month absence.
The Italian shipbuilder has just bought 5m shares in the Singapore-listed shipbuilding company, according to a regulatory filing.
The acquisition pushes Fincantieri’s stake in the Norwegian shipbuilder to 934.5m shares, or almost 79.2% of its common listed stock.
Fincantieiri has been buying up shares in Vard since its bid to take the company private earlier this year fell through.
