British & Commonwealth Shipping now has a stake in Abaco, representing 28.3% of the issued share capital, as a result of recent transactions by two of its subsidiaries.
There is now speculation that the fast-expanding Abaco could be snapped up by John Gunn’s group.
Following the recent sale of its stake in Country & New Town Properties, British & Commonwealth stated that its policy was to enlarge its property interests by taking full control of companies.
Meanwhile, Abaco has completed its purchase of Cayzer Steel Bowater and Bryan Worrall & Co for a total of £23.7m. Shareholders approved the issue of shares at an extraordinary general meeting of the company on August 24.
