Avance shelves ambitious gas consolidation

Avance Gas was unsuccessful in reaching the conditions for the takeover of Aurora LPG. "Of course, it is a little disappointing that we did not succeed," CEO Christian Andersen tells ShippingWatch.
Photo: Avance Gas
Photo: Avance Gas

Avance Gas was unsuccessful in the takeover of Aurora that the Norwegian gas carrier has been fighting for over a period of several weeks. This is in spite of the fact that, just one week before the expiration of the bid, Aurora opted to significantly loosen the conditions to a 29 percent approval from stakeholders, down from 90 percent in the original bid. How many stakeholders in Aurora ended up accepting the offer, is not something that CEO Christian Andersen wishes to elaborate for ShippingWatch.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
Must contain at least 6 characters
Must contain at least 2 characters
Must contain at least 2 characters

Get full access for you and your coworkers

Start a free company trial today

Share article

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Further reading