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.
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