Shipping firm BW Group revealed today it has actually obtained a bulk risk in LPG shipowner Epic Gas and also has actually released a genuine deal to obtain the staying shares of the firm.

Epic Gas is the biggest industrial driver and also second biggest proprietor of tiny pressurized LPG providers. It has a fleet of 39 vessels varying from 3,500 to 11,000 cbm that commonly offers the short-haul or local LPG and also chemicals profession.

BW Group got 38,548,329 shares of Epic Gas from essential investors relating to 54.7% of the firm. It is likewise supplying to staying investors $1.60 per share plus added factors to consider that might add one more $.10 to the deal. Epic Gas investors have up until 12 April 2019 to approve the deal.

BW Group states it plans, based upon the result of the deal, for Epic Gas to preserve its listing on the Merkur Market and also invites investors that wish to remain to hold shares in the firm.

The bargain notes BW Group’s entrance right into the pressurized LPG delivery market.

“BW Group is pleased to acquire this shareholding in Epic Gas with its strong operational platform and quality fleet,” states Andreas Sohmen-Pao, Chairman of BWGroup “The transaction represents an opportunity to acquire a well-managed company, led by Charles Maltby, and we look forward to working together to achieve successful growth in the service of our customers.”

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