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You are here: Home → Archive → 2009 → December → Weekly Edition 17th December 2009 → Indonesian firm in new bid for Norway target

Indonesian firm in new bid for Norway target

by Martyn Wingrove, London — last modified Dec 18, 2009 11:16 AM

INDONESIAN shipowner Berlian Laju Tankers will launch a revised takeover offer for Norwegian shipping group Camillo Eitzen early next year, after failing to secure approval from Indonesian market regulators for its initial plan.

BLT plans to offer the equivalent of NKr23.5 (US$4) per Camillo Eitzen share in the first quarter of 2010, but the conditions of the takeover will be subject to regulatory approvals and shareholder consents.
The revised deal comes after Indonesia...

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