Fincantieri has splashed out SGD 53.3m ($38.1m) on shares in Singapore-listed Vard, but it wasn't enough to bring its stake above the 90% mark as planned.
The Italian shipbuilding giant's Fincantieri Oil & Gas unit now owns a total of 879 million shares, or about 74.5%, of Norway's Vard.
Fincantieri said that it picked up nearly 216 million shares of the smaller shipbuilding group's shares in a voluntary offering, spending SGD 51.8m.
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