Geveran Trading may have to make a mandatory offer for the remaining shares in Norwegian Property
Geveran Trading, the investment company controlled by Norwegian shipping magnate John Fredriksen, may have to make a mandatory offer for all of Norwegian Property (Npro), according to Dagens Naeringsliv.
The Norwegian business daily reported, without citing any specific sources, that Geveran is said to have acquired a 4.7% stake in Npro for around NOK 250m (EUR 29.6m) on Friday, increasing its total stake from 32.87% to 37.54%.
The paper reported that this means that Geveran has surpassed the 33.3% limit which requires the shareholder to make an offer for the remaining shares.
Source Dagens Naeringsliv