Fredriksen's holding company to launch bid for Avance Gas

John Fredriksen's Hemen Holding has increased its stake in gas ship operator Avance Gas, and the holding company aims to make a bid for all of the shares and thus take over the company, reports Finansavisen.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

John Fredriksen has his sights set on purchasing all of the shares in gas tanker operator Avance Gas.

The Norwegian-Cypriot shipping tycoon's private company Hemen Holding has just increased its stake in Avance Gas by a little more than 127,000 shares, now controlling 25.4 million shares in the carrier, or 32.8 percent, reports Finansavisen.

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