Scorpio Tankers Offloads Remaining Dorian Stake

  • Business & Finance

Scorpio Tankers Inc. has entered into a deal to sell 3,392,083 common shares of Dorian LPG Ltd., owner and operator of Very Large Gas Carriers (VLGCs), to Sino Energy Holdings LLC, for a purchase price of USD 16.16 per share. 

The company said that the shares would be sold pursuant to an effective resale registration statement filed by Dorian LPG on July 8, 2015, and are expected to be delivered to the purchaser on or around July 29, 2015.

Following the sale, the company will no longer own any shares of Dorian’s common stock.

The sale comes in the aftermath of the BW Group’s purchase of 6 million shares in New York Stock Exchange-listed Dorian LPG Ltd, constituting approximately 10.2% of the total number of shares outstanding in Dorian, at USD 15.34 per share (USD 92 million in total).

In a separate statement, Dorian LPG said that it took delivery of the ECO VLGC Continental from Hyundai Samho Heavy Industries.

Continental, Dorian LPG’s seventh newbuilding delivery, will be operated in the Helios LPG Pool.

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