Crescent raises its stake in Dana to over 20% | GulfNews.com:
Crescent Petroleum has been granted permission to raise its stake in Dana Gas to more than 20 per cent and retain its position as the largest founding shareholder.
The Sharjah-based energy company said in a statement Tuesday that it has permission to acquire additional shares in Dana Gas as an insider.
“The purchase underscores Crescent Petroleum’s confidence in Dana Gas and in the continued growth of the company’s business. The share purchase follows the dilution of Crescent’s holding after the conversion of Dana convertible Sukuk shares,” the statement said.
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