A group including AS Clipper and the Steensland family have made a mandatory offer to take gas shipowner Solvang private, in a move widely seen as a defensive one amid aggressive takeovers going on in the LPG sector recently.
AS Clipper announced the mandatory offer today. The offer price is NOK25.50 ($2.96) per share with settlement in cash.
The offer period commences today and finishes on May 4.
Solvang’s 18 ships are a mix of ethylene carriers, LPG ships and VLGCs. The company is chaired by Michael Steensland-Brun.