BW LPG Expands Fleet with $1.05 Billion Acquisition

BW LPG Ltd (GB:0QIX) has released an update.

BW LPG Ltd has announced the acquisition of 12 Very Large Gas Carriers from Avance Gas, totaling $1.05 billion, financed through cash, new shares, and a shareholder loan, aiming to strengthen their position as the world’s largest owner and operator of LPG dual-fuel VLGCs. The deal, which will expand BW LPG’s fleet from 41 to 53 vessels, is expected to enhance customer service and increase earnings and dividend potential. The transaction will be completed vessel by vessel, with a target completion date of December 31, 2024.

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