Bharati Shipyard buys more of Great Offshore

India's Bharati Shipyard has bought a 3 percent stake in Great Offshore from ABG Shipyard for 537 million rupees ($12 milion), the Business Standard reported on Saturday, citing Bharati.
Bharati Shipyard said it bought the Great Offshore shares from ABG Shipyard at 480 rupees each, a premium of 10.5 percent to the stock's closing price of 434.25 rupees on the Bombay Stock Exchange on Friday, the paper reported.
In January, Bharati acquired a 21 percent stake in Great Offshore, taking its overall stake in the company to 44.26 percent.