The delivery of the BW Rigel and BW Pampero vessels mark the sixth and seventh vessels delivered to BW from Avance Gas as part of the companies’ $1.5 billion deal for 12 very large gas carriers. (Source: BW LPG)
BW LPG took delivery of vessel BW Rigel from Avance Gas Holdings Ltd. on Dec. 6.
This marks the sixth delivery out of 12 very large gas carriers (VLGCs) BW acquired in a $1.5 billion cash and stock deal in August.
As part of the consideration for the vessel, BW LPG has issued 2,141,000 new shares to Avance Gas. Following the issuance, the total number of issued shares of BW LPG is 149,641,000, representing $453,559,798 in share capital.
Following the issuance, Avance Gas holds 9,641,000 shares in BW LPG, or 6.44% shareholding.
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