John Fredriksen to take control of Avance Gas

John Fredriksen has moved to take full control of Avance Gas. The Norwegian tycoon’s privately held Hemen Holding bought more shares in the VLGC player on Friday, which in addition to the shares controlled by another Fredriksen vehicle, Frontline, has taken Fredriksen’s holding in the company above a third, allowing him to trigger a mandatory offer for Avance, which will be completed within four weeks.

Oslo-listed Avance Gas currently controls 14 VLGCs. Avance Gas traces its roots to 2007 and the creation of Stolt-Nielsen 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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