BW takes Dorian LPG stake from Scorpio Tankers

BW takes Dorian LPG stake from Scorpio Tankers

New York: BW Group, via subsidiary BW Euroholdings, has purchase 6 million shares in New York listed Dorian LPG giving it a 10.2% stake in the company.

BW purchased the shares from Scorpio Tankers at $15.34 each, making the deal worth $92m in total. BW Euroholdings has granted an option to buy the shares to another subsidiary, BW LPG, which must be exercised by August 27.

The deal leaves Scorpio Tankers with a 5.8% stake in Dorian LPG, which owns a fleet of nine VLGCs and has another 13 set to deliver this year and next.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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