John Fredriksen's mandatory offer for the rest of Avance Gas may indicate a potential merger with another of the VLGC owner's big shareholders, Petredec.
Earlier in August, the tycoon's private Hemen Holding company reached the 33.3% threshold that triggers a mandatory bid for the remaining Avance stock.
Norwegian investment bank Fearnley Securities said the move throws up three possibilities, including Fredriksen positioning Avance for a combination with UK VLGC operator Petredec, which has built its stake to 15% in Avance.
