Argus Energy Group Hikes Its Tosco Stake
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
