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Dockwise gets closer to complete control of Fairstar

July 2 - Dockwise has announced that, through its wholly-owned subsidiary Dockwise White Marlin bv, it now controls 80.4 percent of the outstanding shares of Fairstar Heavy Transport, having bought shares over the weekend from various shareholders includi

The total number of shares which Dockwise agreed to purchase over the weekend is 17,834,122, or 20 percent of Fairstar, increasing its holding from 60.4 to 80.4 percent.

Indofin, through its member company, Rose Land Management Ltd, purchased 8,266,728 new shares in Fairstar Heavy Transport in November 2010. Speaking at the time, Cees de Bruin, Indofin's chairman, commented: "We are very impressed by what Philip Adkins and his team have accomplished at Fairstar, developing the company into the leader in its market segment. With this investment, we underline Fairstar's strategy of continued quality leadership and fleet expansion."

The price paid for the shares was not revealed.

www.dockwise.com

www.fairstar.com

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