BW LPG ups stake in Aurora LPG

BW LPG ups stake in Aurora LPG

Aurora LPG looks like it is going all out to avoid the advances made by Avance Gas.

Oslo-listed Avance Gas, which failed last year to take over Dorian LPG, made a bid for Aurora LPG last month.

Yesterday evening BW LPG bought just over 3m shares in Aurora LPG, taking its holding in the gas operator to 12.13%. To help fund the acquisition BW LPG sold 2,565,318 existing shares in BW LPG held in treasury.

Yesterday, Aurora LPG also formed a joint venture in Hong Kong with Wilhelmsen Ship Management to look after the former’s VLGC fleet. Senior management at Aurora LPG have been distancing themselves from merger talk led by Avance Gas.

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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