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BW LPG picks up major stake in Aurora LPG

The BW group's expansive gas carrier BW LPG has acquired a 12.13 percent stake in Oslo-listed Aurora LPG, whose board of directors has just rejected a takeover bid from Avance Gas.

Singapore-based BW LPG, which controls the world's biggest fleet of the major VLGC gas vessels, has purchased 12.13 percent of the shares in Norwegian gas carrier Aurora LPG.

The transaction comes on the heels of the Aurora board of directors' decision to reject a takeover bid from similarly Oslo-listed carrier Avance Gas. BW LPG already held a small stake in Aurora and has now acquired another 3,069,185 shares, bringing its total stake to 12.13 percent, informs BW LPG in a statement Wednesday.

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