BW LPG (BWLP) said it has completed the $1.05 billion acquisition of 12 very large gas carriers from Avance Gas Holdings following the delivery of the final vessel, BW Avior, Tuesday.
The transaction was settled with $585.4 million in cash, $132 million in sale-leaseback agreements, and about 19.3 million newly issued shares valued at $332.6 million.
BW LPG said its fleet now totals 53 VLGCs, including 22 dual-fuel vessels.
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