Temasek ups stake in Neptune

Tue, 14 Sep 2004, 00:00 WIB | Source: AP

SINGAPORE: The Singapore government's investment arm, Temasek
Holdings, has upped its stake in Neptune Orient Lines, days
before the close of Temasek's offer to take over the shipping
line.

Temasek said it has increased its stake in NOL to 35.6 percent
from 32.33 percent.

Temasek has offered S$2.80 per share for the rest of the
stock. The offer for NOL, the world's seventh-largest shipping
line, closes on Wednesday.

U.S.-based fund manager Paulson & Co. Inc. -- another
shareholder in NOL -- has also been increasing its stake. -- AP

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