Bollore sells 3.5 pct of Vallourec for 377 mln eur, cutting stake to 3.97 pct |
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Wed, 21 Mar 2007 18:37
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PARIS (AFX) - Groupe Bollore said it has sold 3.5 pct of its stake in Vallourec for 377 mln eur, with an estimated gain of 345 mln eur, thereby reducing its stake to 3.97 pct.Bollore said it exercised sale options that matured in 2007.'Following these operations, the group fell beneath the threshold of 5 pct of the capital and voting rights in Vallourec on March 15, and now holds 3.97 pct of the capital,' Bollore stated in its press release.Groupe Bollore has steadily reduced its stake in Vallourec, from over 25 pct in 2004 to 7.5 pct last year, and Vincent Bollore resigned from Vallourec's supervisory board earlier this month.paris@afxnews.comgt/cmlCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Bollore quits Vallourec supervisory board 