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Andreas Sohmen-Pao, chairman of BW Group, is one of shipping's most ambitious consolidators. Photo: LISW

BW Group swoops on Navigator Holdings in $197m deal for WL Ross stake

Sohmen Pao gets 39.1% of New York-listed LPG owner for $9 per share, a 9.4% price premium

15 December 2020 16:30 GMT Updated 16 December 2020 13:54 GMT

By Joe Brady

and Gary Dixon

in Stamford and London

The BW Group has swooped on the 39.1% stake in Navigator Holdings held by WL Ross & Co in a $197m deal, paying $9 per share and a 9.4% premium to the recent share price.

Andreas Sohmen-Pao-led BW Group, whose businesses include BW LPG, has therefore secured another big acquisition in the gas business after seeing mixed results in the sector in 2019.