John Fredriksen’s Avance Gas is mulling its identity after selling its VLGC fleet to BW LPG in a $1bn deal, which took shape while the rest of the Oslo shipping community was on summer holidays.
Andreas Sohmen-Pao’s BW today revealed a cash and shares swoop for 12 Avance Gas’ VLGCs. It comes more than three years after Avance Gas first became a shareholder in its Oslo-listed rival but just weeks after the first discussions took place.
