BW LPG ditches Dorian takeover

BW LPG ditches Dorian takeover

Andreas Sohmen-Pao’s BW LPG has pulled out of a proposed $1.1bn merger with rival Dorian LPG after months of back and forth bickering between the pair. Citing “Dorian’s continued refusal to give a meaningful response to BW LPG’s outstanding proposal, engage in constructive two-way discussions, or schedule its annual meeting,” BW LPG has pulled the plug on the planned takeover of the John Hadjipateras-led company.

In a letter to Hadjipateras, Sohmen-Pao concluded by writing: “We believe this is a lost opportunity for Dorian shareholders and for the industry, but remain open to a future conversation should your board and shareholders become convinced of the merits of consolidation.”

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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