Vard Holdings says it hired CIMB Bank of Singapore to advise it on the takeover offer from Fincantieri.
The company, which has shipyards in Norway, Romania, Brazil, and Vietnam, says CIMB will deliver its recommendation on the exit offer "in due course."
Fincantieri has a squeeze-out offer of SGD 0.25 ($0.183) for each share of the remaining 21% stake in Vard it does not already own.
