EcoSecurities Group Plc, a Dublin- based developer of emission-reduction projects, rose to a 13- month high in London trading, a 16 percent premium to a takeover offer by Guanabara Holdings BV.
EcoSecurities climbed 1.1 percent to 89 pence, the highest close since July 1, 2008, valuing the company at 105.2 million pounds ($173 million). Guanabara on July 16 made a bid of 77 pence a share, valued at 91 million pounds, for EcoSecurities, which was previously targeted by Electricite de France SA, Europe’s largest utility.
UBS AG (UBSN), the Swiss bank, yesterday boosted its stake in EcoSecurities for the second day in a row. It rose to 1.95 percent yesterday from 1.85 percent on July 28, according to statements distributed by the Regulatory News Service. Its stake was at 1.79 percent as of July 21. EcoSecurities’ biggest shareholder is Credit Suisse AG, with 14.5 percent, Bloomberg data show.
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