Dar Group increases WorleyParsons stake via Citi

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Dubai-based Dar Group has spent $148 million to buy another 3 per cent of ASX-listed engineering firm WorleyParsons.

It is understood Dar picked up the 8.05 million WorleyParsons shares on Tuesday night, in a trade handled by broker Citi's equities desk.

Dar paid $18.38 a share, or $148 million, which was in line with the stock's closing price on Tuesday.


It was the first time Dar had bought WorleyParsons shares since November last year and takes its stake to 25.9 per cent of the engineering company.


The trade was also the most shares Dar could buy in the absence of making a takeover bid for WorleyParsons.