STX OSV

STX OSV: stock is +2.9% at $1.415 today; has been climbing slowly since bottoming out at $1.245 on 16 Nov. We note that significant sh/h OZ Mgt announced on 16 Nov that raised its stake from 11.93% to 12.00% via open mkt purchases. The fund might have taken the opportunity to load up, following weakness in the shares post the weak 3Q12 results that came in below expectations. Back in Nov, there were some murmurs by STX Group Chairman that the sale of STX OSV would be completed within the month. That didn't materialize in the end, but expect this angle to resurface every now and then, as the STX Group continues with its plans for assets sales to raise funds to repay debt. Recall the STX Group owns 50.75% of STX OSV, via STX Europe.