14/12/2015at 09:32

Avance changes Aurora bid conditions

Avance Gas has changed the conditions in its takeover bid on competitor Aurora LPG. From needing a 90 percent approval from the shareholders, this has now been changed to 29 percent, informs Avance in a corporate statement.

BY KATRINE GRØNVALD RAUN

Norwegian carrier Avance Gas has changed the conditions in its attempt to take over gas carrier Aurora LPG, which like Avance sails with the largest vessels, the VLGCs. In the original offer, Avance needed a minimum approval of 90 percent from the stakeholders in Aurora, but that number has now been lowered to 29 percent, Aurora announces in a statement.

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