A $1bn deal between BW LPG and Avance Gas was struck over four weeks of peak Norwegian holiday
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 VLGCs. It comes more than three years after Avance first became a shareholder in its Oslo-listed rival but just weeks after the first discussions took place.
