Norwegian shipowner Morits Skaugen junior's business is about to make a new start. The reshaped company, which was listed in Oslo in 1990, will be back under private ownership, with the 62-year-old holding a smaller slice.
A new firm, Norgas Carriers, will take over the activities of IM Skaugen and its fleet of seven gas carriers.
Fellow Norwegian Christen Sveaas is injecting $3m in fresh equity via his Kistefos vehicle and the Skaugen family could see its stake reduced to less than 10% from 36%.
