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Tuesday, 28 February 2017

WorleyParsons leaps after Dubai’s Dar Group reveals stake

WorleyParsons leaps after Dubai’s Dar Group reveals stake:

"Shares in Australian energy services company WorleyParsons jumped by about 30 per cent today after Dar Group, a Dubai-based consulting group, revealed it had taken a 13.35 per cent stake in the company. Privately-owned Dar Al-Handasah Consultants Shair and Partners, which Worley confirmed as having made a takeover offer in November, said in a note to the ASX today it had acquired an 8.61 per cent stake via physical shares and exposure of 4.74 per cent by way of a cash-settled equity swap exposure. Dar said it had purchased the stake “with a long term strategic perspective and looks forward to being a supportive shareholder.”"



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