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Forced and unfair delistings: the Vard case

Claire Barnes
Claire Barnes4/23/2018 07:30 AM GMT+08  • 10 min read
Forced and unfair delistings: the Vard case
SINGAPORE (Apr 23): In recent years, there have been a number of cases in which controlling shareholders have used the threat of delisting to force out minority shareholders at unfairly low prices. We prefer to invest in businesses in which we are treated
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SINGAPORE (Apr 23): In recent years, there have been a number of cases in which controlling shareholders have used the threat of delisting to force out minority shareholders at unfairly low prices. We prefer to invest in businesses in which we are treated as long-term partners and are unhappy about the way Fincantieri is trying to privatise its Singapore-listed subsidiary, Vard Holdings.

This has been a disappointment, as Fincantieri has been operationally helpful, facilitating diversification after the severe downturn in the oil and gas sector, assisting in keeping the yards busy and the skilled workforce as intact as possible, and broadening the pool of managerial talent.

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