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BW LPG builds Aurora stake

BW LPG has continued its steady buildup in the stakeholding of rival Aurora LPG. On Friday, BW LPG came in for another 3m shares, giving it another 10.12% stake in the Oslo-listed firm, and bringing a takeover one step closer.

BW LPG now has 29.83% of Aurora’s shares. Additionally, BW LPG has acquired NOK57m (33.53%) of the senior unsecured bond issued by Aurora LPG maturing on 9 August 2017.

The Sohmen-Pao family controlled BW LPG first started buying more shares in Aurora when another rival, Avance, initiated buyout plans for Aurora late last year.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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