Argus Energy Group Hikes Its Tosco Stake
- Share via
From States News Service
A group led by Argus Energy Corp. has increased its stake in Tosco Corp. to 49.42% of the Santa Monica-based company, according to a filing with the Securities and Exchange Commission.
From June 9 to June 15, the group bought 290,500 series E preferred shares of the petroleum refiner and marketer for a total of $12 million.
Each preferred share is convertible into approximately 13 common shares. The group now holds the equivalent of 33.83 million Tosco common shares.
June,21, 1988
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.