BW-dominated Navigator Gas takes over Ultragas in multimillion-dollar trade

BW-dominated Navigator Gas buys Chilean-owned Ultragas in a share transaction totaling USD 400 million. The acquisition results in a player with over 56 LPG vessels.

Martiin Fruergaard, CEO of Ultragas, which will be taken over by Navigator Gas in a billion-dollar trade. Martin Fruergaard, however, is on his way to a top position at Pacific Basin. | Photo: Danske Rederier

Consolidation in the global gas tanker market continues unabated, and with Singapore-based BW Group playing a central part.

In a share-based transaction for just over USD 400 million, Navigator Gas takes over Chilean-owned Ultragas, which is headquartered in Gentofte, Denmark, and owned by the von Appen family through Ultranav.

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