Photo: Fugro
AMSTERDAM, Dec 5 (Reuters) – Shares in Dutch deep-sea prospector Fugro fell 4.5 percent on Monday after larger rival Boskalis announced that it had trimmed its holding in the company.
A statement from dredging and marine engineering company Boskalis said that its holding in Fugro now stands at 24.9 percent. Boskalis had built a stake of as much as 28.6 percent at the end of 2015 in what was widely seen as a first step towards buying Fugro.
Boskalis also took Fugro to court in an attempt to strip away some of the company’s poison pill defenses but lost its case in May.
Fugro shares were down 4.5 percent at 14.74 euros by 1641 GMT. They had been trading around 15.14 euros shortly before the news was announced.
Boskalis spokesman Martijn Schuttevaer said that Boskalis would not comment on “any consideration, motivation or underlying strategy” behind the move.
Dutch market rules require investors to report to market regulator AFM when they cross above or below an ownership threshold of 25 percent of a listed company. (Reporting By Thomas Escritt and Toby Sterling; Editing by David Goodman)
(c) Copyright Thomson Reuters 2016.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 109,862 members that receive our newsletter.
Have a news tip? Let us know.
British oil and gas major Shell on Tuesday settled a London lawsuit it brought against environmental group Greenpeace after activists boarded a Shell oil production vessel last year.
Satellite imagery show that Russian naval ships have left Moscow's base at Tartous on Syria's coast and some have dropped anchor offshore following the overthrow of Syrian President Bashar al-Assad by rebel forces.
Canada will establish two new Arctic consulates in Alaska and Greenland and appoint a dedicated Arctic ambassador as part of a long-awaited strategy for a region where Russia and China are increasingly seeking to assert their influence.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 109,862 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
