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Shipper BW LPG offers to acquire Dorian LPG in USD 1.1 billion deal

Gasoil News - Published on Fri, 01 Jun 2018

Image Source: wp.com
Reuters reported that the world's largest liquid petroleum gas (LPG) shipper, Norway's BW LPG, is offering to buy competitor Dorian LPG in a USD 1.1 billion all-stock deal in an effort to boost its earnings in a weak market.

Dorian shareholders will receive 2.05 BW LPG shares for each Dorian share, equal to USD 7.86 per share, a premium of 13 percent from Friday's closing price, and based on BW LPG's share price on May 28.

New York-listed Dorian LPG's equity is valued at about USD 441 million and including debt the transaction is valued at USD 1.1 billion.

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Posted By : Nanda Koijam on Fri, 01 Jun 2018
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