(From Lloyds List)
TEEKAY Shipping has raised the stakes in a bidding battle for Norwegian firm Petrojarl after increasing its interest to 37.7%, writes Martyn Wingrove.
The Canadian shipping group is competing with another Oslo-listed company Prosafe to gain control of four North Sea operating floating production storage and offloading vessels.
Teekay has purchased 7.5m shares at NKr68 per share in Petrojarl to own around 28.25m shares, eclipsing Prosafe's 29.7% interest in the FPSO owner.
Last Friday, Prosafe proposed a merger with Petrojarl as it drives to become the second largest supplier of FPSOs to the oil industry but is yet to …