Printer Friendly

-Chilean Ultragas to squeeze out U-Sea Bulk Shipping's minority stockholders.

NORDIC BUSINESS REPORT-December 2, 2011--Chilean Ultragas to squeeze out U-Sea Bulk Shipping's minority stockholders(C)2011 M2 COMMUNICATIONS

2 December 2011 - Chilean shipowner Ultragas ApS said Thursday it will fulfill its intention to squeeze out the minority shareholders of Danish company U-Sea Bulk Shipping A/S (CPH:USEA), after exceeding the 90% threshold, requiring a compulsory acquisition.

Ultragas, part of Navieras Ultragas Ltda, now owns 24.5 million shares, or 90.49%, in U-Sea Bulk Shipping, after buying earlier on Thursday 414,130 shares, priced DKK28.77 each.

On 30 November, Ultragas announced its intention to take full control over U-Sea Bulk Shipping at a price of DKK28.77 apiece. The compulsory acquisition is expected to run to 29 December, when the shares in U-Sea Bulk Shipping are due to be delisted from the Copenhagen exchange.

(EUR1 = DKK7.4)

((Comments on this story may be sent to

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Nordic Business Report
Date:Dec 2, 2011
Previous Article:-Bavarian Nordic raises capital to DKK260.9m through share issue.
Next Article:-New cars registrations in Norway improve by 3.8% Y/Y in Nov 2011.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters