Stolt-Nielsen seeks remaining shares in Avenir LNG

The acquisition of the rest of the shares may tentatively be completed by April 16. 

PHOTO: Avenir LNG's bunker vessel, Avenir Ascension. Avenir LNG

In January, Stolt-Nielsen Gas, a subsidiary of Norwegian tanker operator Stolt-Nielsen, acquired a 94.37% controlling stake in the Bermuda-registered physical supplier Avenir LNG.

The move allows Stolt-Nielsen Gas to take over the remaining shares through the “compulsory acquisition” clause under the Companies Act, 1981 of Bermuda. 

Through the acquisition, Stolt-Nielsen Gas owns and operates Avenir LNG’s fleet of five LNG bunkering vessels and two new LNG bunker vessels currently on order.

By Manjula Nair

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