BW LPG Acquires 12 Very Large Gas Carriers from Avance Gas
The Transaction is funded through the issuance of 19.282 million new
Following the issuance of the total share consideration, Avance Gas will become a 12.77% shareholder in
The Transaction will add significant scale to BW LPG’s fleet. It increases the number of owned and operated VLGCs from 41 to 53, of which 22 are LPG dual fuel. This further solidifies BW LPG’s position as the world’s leading owner and operator of VLGCs, with the largest number of LPG dual-fuel powered VLGC’s. This fleet expansion comes at an opportune time with VLGC newbuild deliveries abating and continued growth in global LPG export volumes.
Consent from the lessor of two sale-leaseback facilities, and the charterers of three time-charter parties, is to be obtained prior to delivery of five of the vessels. Closing of the Transaction will take place on a vessel-by-vessel basis targeted to be completed by
Mr.
Mr.
Conference call:
To present the transaction,
https://bit.ly/BWLPG_IPAug2024
A recording will also be available after the event on BW LPG’s website at: https://www.investor.bwlpg.com.
The link will also be made available on BW LPG’s website at: https://www.investor.bwlpg.com. Those wishing to listen to the call should connect at least five minutes prior to the start of the call to ensure connection. The information provided on the teleconference is only accurate at the time of the conference call, and
An investor presentation will be made available on BW LPG’s website.
Advisors:
Disclaimer
Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or purchase whatsoever in any jurisdiction and shall not constitute or form part of an offer to sell or the solicitation of an offer to buy any securities in
This information announcement includes inside information pursuant to Article 7 of the EU Market Abuse Regulation and is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This announcement was published by
About
Appendix: List of vessels to be acquired by
No |
|
Size |
Year built |
Yard |
Ownership |
Note |
1 |
Mistral |
83,000 |
2015 |
|
100% |
Scrubber |
2 |
Monsoon |
83,000 |
2015 |
|
100% |
Scrubber |
3 |
Breeze |
83,000 |
2015 |
|
100% |
Scrubber |
4 |
Passat |
83,000 |
2015 |
|
100% |
Scrubber |
5 |
Sirocco |
83,000 |
2015 |
|
100% |
Scrubber |
6 |
|
83,000 |
2015 |
|
100% |
Scrubber |
7 |
Chinook |
83,000 |
2015 |
|
100% |
|
8 |
Pampero |
83,000 |
2015 |
|
100% |
|
9 |
Avance Polaris |
91,000 |
2022 |
Daewoo, |
Sale leaseback |
LPG dual fuel |
10 |
|
91,000 |
2022 |
Daewoo, |
Sale leaseback |
LPG dual fuel |
11 |
|
91,000 |
2023 |
Daewoo, |
100% |
LPG dual fuel |
12 |
Avance Avior |
91,000 |
2023 |
Daewoo, |
100% |
LPG dual fuel |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240815113814/en/
E-mail: investor.relations@bwlpg.com
Source: