Bharati Shipyard to make open offer to acquire shares of GOL

01 Jun 2009

Private sector shipyard, Bharati Shipyard, will make a public announcement for acquisition of additional shares of Great offshore (GOL) upto 20 per cent of its paid-up equity share capital. The announcement would be made by Bharati Shipyard through its wholly owned subsidiary--Natural Power Ventures.

 

The purpose of the open offer is to consolidate its investment in Great Offshore. This acquisition will provide enhanced stability to the existing management in Great Offshore and maximise shareholder value for both the companies. Bharati Shipyard recently acquired the shares pledged by Great Offshore which was equivalent to 14.89 per cent equity stake in latter company at a price of Rs 315 per share.

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