NETHERLANDS - Dutch pension fund manager Shell Asset Management Company BV (SAMco) has acquired a 19.5% stake in Azure Dynamics Corporation, a producer of hybrid electric and electric commercial vehicles.
In a statement SAMCo, which is a Netherlands-based asset manager for a number of pension funds, revealed it might acquire further shares in the company.
It added: "On behalf of the pension funds SAMCo may from time to time acquire additional common shares in the open market or in privately negotiated transactions, subject to availability of common shares at prices deemed favourable, Azure's business or financial condition and other factors and conditions SAMCo deems appropriate.
"In addition, SAMCo may on behalf of the pension funds formulate other purposes, plans or proposals regarding Azure or any of its securities to the extent deemed advisable in light of general investment and trading policies, market conditions or other factors."
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