ICTSI ups Portek stake to 17%

International Container Terminals Inc (ICTSI) has increased its stake in takeover target Portek to just under 17%. The Philippines terminal operator acquired an additional 12.11% stake in Singapore-listed Portek for $$1.19 - $$1.20 per share. The acquisition takes ICTSI’s stake in Portek to 16.93%. ICTSI launched a takeover bid for Portek earlier this week offering S$1.20 per share.
(Source:http://en.portnews.ru)