BW LPG has announced it will buy out the remaining shares of Aurora LPG now that it controls 96% of the float.
“BW LPG confirms with this announcement that it intends to proceed with a compulsory acquisition of the remaining Aurora LPG shares,” the company said.
As consideration for the tendered Aurora LPG shares, BW LPG will pay a total cash consideration of NOK132,862,203.60. In addition, BW LPG will issue in total 5,647,543 consideration shares to Aurora LPG shareholders who have chosen to receive their consideration partially in BW LPG shares.
The nine-ship Aurora fleet takes BW LPG’s fleet to 52 ships, giving it a dominant position in the VLGC trades worldwide.