Aban Offshore Updates on Singapore subsidiary

Aban Offshore Ltd has announced that its subsidiary Aban Singapore Pte Ltd (ASPL) and its subsidiary have terminated the total Return Swap (TRS) Agreements entered into with First Securities ASA and ICICI Bank UK Ltd, with the shares of Sinvest ASA as the underlying asset.

Aban International Norway AS (AIN), a wholly owned subsidiary of ASPL, has during the period December 29, 2006 to January 02, 2007, purchased 6,077,581 shares in Sinvest ASA, thereby increasing the combined holding of ASPL & AIN to 50.01% of the outstanding shares in Sinvest ASA.

Source : Equity Bulls

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