![Vard Promar shipyard in Ipojuca, Brazil. Image courtesy of Vard Holdings.](http://media.assettype.com/bairdmaritime%2Fimport%2Fwp-content%2Fuploads%2Fmedia%2Fk2%2Fitems%2Fsrc%2Fe21cbb67c2c0ef2b71b4d5e934276db9.jpg?w=480&auto=format%2Ccompress&fit=max)
Vard Holdings recently announced that as at August 31, 2018, Fincantieri Oil and Gas (O&G) has agreed to acquire further shares in the company.
Fincantieri O&G, a subsidiary of Fincantieri, became the majority shareholder in Vard Holdings in 2013, at the time holding 79.34 per cent ownership.
Following the current acquisition, Fincantieri O&G will hold an aggregate of 1,111,030,861 shares in Vard, representing 94.16 per cent ownership in the company.