Fredriksen Zeroes In on Flex LNG

Billionaire John Fredriksen increased his share in Flex LNG to 43.32%, triggering a mandatory offer for all of the shares of the London-based liquefied natural gas carrier. Fredriksen bought additional 12.7 million shares at NOK 7.75  apiece through Geveran Trading Co Ltd.

Geveran plans to make a mandatory offer for the remaining shares of Flex LNG in the next four weeks.

Last month Fredriksen collected USD 1.9bn from the sale of  80% of his shares in Golar LNG. The Oslo-listed Flex LNG currently has two 174,000 m3 LNG carriers under construction at Samsung Heavy Industries.

Fredriksen first bought shares in Flex LNG back in September 2013, returning back for more last month, when he increased his stake in the company to 32%.

Press Release