Avance Gas Holding (AVACF) has released an update.
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Avance Gas Holding has completed the sale of its VLGC fleet to BW LPG for $1,050 million, making it the second largest shareholder with a 12.1% stake. The company plans to distribute BW LPG shares to its shareholders after a 40-day lock-up period, along with announcing fourth-quarter results in February 2025. The sale generated approximately $240 million in net cash proceeds, and Avance Gas is preparing for a capital reduction to distribute assets before winding up.
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