Guanabara raises its bid for EcoSecurities

Guanabara is led by one of EcoSecurities co-founders Pedro Moura Costa who has roundly condemned the direction the Irish carbon credit company has taken since he resigned earlier this year.

He said that his bid had doubled the level of acceptances it had received from just over 12% to 25.5% following the new offer, which is virtually double EcoSecurities' share price before the aggressive takeover bid was launched.

EcoSecurities was taken public in 2005. The new bid runs until 18 September.