Stolt-Nielsen and Sungas divesting shares in gas giant

Stolt-Nielsen and Sungas are now putting upwards of five million shares, corresponding to a 14.2 percent stake, up for sale in the gas venture Avance Gas, says the company in a corporate statement.

BY KATRINE GRØNVALD RAUN

Stolt-Nielsen Gas, a subsidiary of Norwegian shipping group Stolt-Nielsen, along with another partner, Sungas Holdings, plans to divest part of the carriers' stakes in gas collaboration Avance Gas, according to a statement issued to the Oslo Stock Exchange, which informs that the two parties "are exploring the opportunity to sell up to 5.0 million common shares" in Avance Gas. The two companies own Avance Gas together with Frontline 2012.

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