BW LPG buys stake in John Fredriksen-controlled company

BW LPG now buys a chunk of Avance Gas, which is controlled by Norwegian-Cypriot national John Fredriksen. The purchase pertains to a smaller stake, says BW LPG Chief Executive Anders Onarheim, who views increased consolidation in the segment positively.

Photo: PR / BW LPG

Gas carrier BW LPG buys a stake in Avance Gas, which is controlled by Norwegian-Cypriot shipping magnate John Fredriksen.

BW LPG buys 9.14 percent of the company, which grants access to the same number of voting rights in the carrier, shows a reporting to the Norwegian exchange authorities. The 9.4 percent stake covers 5.9 million shares in the company.

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