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John Fredriksen expands shareholding in Avance Gas

Norwegian-Cypriote John Fredriksen now owns more than 75 percent of gas carrier Avance Gas through his privately owned company Hemen Holding and crude oil carrier Frontline.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

John Fredriksen has expanded his shareholding in gas carrier Avance Gas, which he now owns 75 percent of through Hemen Holding and crude oil carrier Frontline.

Fredriksen already had a solid foothold in Avance Gas via his privately owned company Hemen Holding. Earlier in the year, it became known that the company intended to place an offer for all shares and thus take over the gas carrier entirely.

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