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Feb 18 (Reuters) – Kuwait’s Nationwide Aviation Companies (NAS) mentioned on Friday it had elevated its stake in John Menzies MNZS.L for 32.1 million kilos ($43.61 million), taking its complete possession to about 19%, weeks forward of a deadline to make one other takeover supply for the British airport companies group.
The Kuwaiti suitor mentioned it purchased one other 5.8% stake of John Menzies at 605 pence per share.
NAS on Thursday turned John Menzies’ high shareholder, every week after the 188-year-old Edinburgh-based firm rejected a decrease proposal.
Beneath British rules, NAS’ future affords for the London-listed agency should be above 605 pence per share.
A unit of Kuwait’s Agility Public Warehousing Co AGLT.KW, NAS has till March 9 to resolve whether or not to desk one other supply for the British firm or stroll away.
Menzies, among the many largest suppliers of fuelling, floor dealing with and upkeep companies working in round 37 nations, mentioned on Thursday it had not obtained one other supply from NAS.
($1 = 0.7360 kilos)
(Reporting by Yadarisa Shabong in Bengaluru; Modifying by Ramakrishnan M.)
((Yadarisa.Shabong@thomsonreuters.com; Twitter: https://twitter.com/Yadarisa; +919742735150;))
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
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