Centerbridge Partners lifts Boart Longyear stake to 49.9pc
US private equity group Centerbridge Partners has gained a 49.9 per cent stake in Boart Longyear after shareholders in the struggling drilling company largely ignored a rights issue.
US private equity group Centerbridge Partners has gained a 49.9 per cent stake in Boart Longyear after shareholders in the struggling drilling company largely ignored a rights issue.
As part of a $US342 million ($419 million) bailout package announced in October, Boart sought to raise $103.4 million through the issue of 624 million new shares.
