BW LPG Agreed To Acquire 12 Modern Very Large Gas Carriers From Avance Gas For $ 1.05B
Portfolio Pulse from Benzinga Newsdesk
BW LPG has agreed to acquire 12 modern Very Large Gas Carriers (VLGCs) from Avance Gas for $1.05 billion. The acquisition includes four dual fuel VLGCs built in 2022 and 2023, and eight scrubber-fitted VLGCs built in 2015. The transaction will be funded through the issuance of 19.282 million new BW LPG shares to Avance Gas, a cash consideration of $585.4 million, and a shareholder loan from BW Group.
August 15, 2024 | 11:25 am
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BW LPG is acquiring 12 modern VLGCs from Avance Gas for $1.05 billion. The deal involves issuing new shares, cash consideration, and a shareholder loan.
The acquisition of 12 modern VLGCs will likely enhance BW LPG's fleet capacity and operational capabilities. The issuance of new shares and the shareholder loan indicate strong financial backing and strategic growth. This is expected to positively impact BWLP's stock price in the short term.
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