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REFILE-UPDATE 1-Mullen nearly doubles stake in Logan Intl
June 25, 2010 / 10:38 PM / in 7 years

REFILE-UPDATE 1-Mullen nearly doubles stake in Logan Intl

(Refiles to correct dateline)

* Ups stake to 12.5 pct

* Buys shares at C$4.80 each

June 25 (Reuters) - Canada’s Mullen Group Ltd (MTL.TO) on Friday nearly doubled its stake in Logan International Inc LII.TO to 12.5 percent.

The deal comes months after Mullen, which provides transportation and related services to the oil and gas industry, said it was looking to use capital in acquisitions. [ID:nSGE63P0LF]

Mullen said it bought 1.97 million shares of Logan International bringing its total holdings to about 4.10 million shares.

The company bought the shares at an average price of C$4.80.

Shares of Mullen closed at C$14.66 on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Prem Udayabhanu) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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