BW takes Dorian LPG stake from Scorpio Tankers
New York: BW Group, via subsidiary BW Euroholdings, has purchase 6 million shares in New York listed Dorian LPG giving it a 10.2% stake in the company.
BW purchased the shares from Scorpio Tankers at $15.34 each, making the deal worth $92m in total. BW Euroholdings has granted an option to buy the shares to another subsidiary, BW LPG, which must be exercised by August 27.
The deal leaves Scorpio Tankers with a 5.8% stake in Dorian LPG, which owns a fleet of nine VLGCs and has another 13 set to deliver this year and next.
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- July 20, 2015
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