Search results for: Aurora LPG

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  • 17 December 2015
    Business & Finance

    The offer period of Avance Gas Holding’s USD 200 million takeover bid to acquire all the issued and outstanding shares in Aurora LPG Holding ASA (Aurora LPG) expired on 16 December 2015 at 16:30 hours (CET). Following the expiry of the offer period, Oslo-listed Avance Gas noted in a stock exchange filing that not all […]

  • 3 October 2016
    Business & Finance

    Singapore’s gas carrier owner BW LPG has decided to increase its offer for all the remaining shares in Oslo-listed Aurora LPG. Following discussions with the Board of Directors of Aurora LPG, the company has increased the consideration in the offer to either 0.3175 shares in BW LPG and NOK 7.40 in cash; or NOK 13.55 in cash, from the previously planned offer […]

  • 5 December 2016
    Business & Finance

    Singapore’s gas carrier owner BW LPG received acceptances for 3.42 percent of the share capital and voting rights in Oslo-listed Aurora LPG after it launched a voluntary unconditional tender offer for all the remaining shares in the company in late October. Following close of trading on December 2, 2016, BW LPG received acceptances under the offer […]

  • 7 November 2016
    Business & Finance

    Singapore’s gas carrier owner BW LPG has received acceptances for up to 2,98 million of shares in Oslo-listed Aurora LPG, a week after it decided to launch a voluntary offer for all the remaining shares in the company. The additional shares acquired correspond to 10.07% of the share capital and voting rights in Aurora LPG. Following this, BW […]

  • 29 March 2016
    Business & Finance

    Norway-based liquid petroleum gas transporter Aurora LPG Holding ASA has taken delivery of two very large gas carriers (VLGCs) Aurora Balder and Aurora Njord, according to a stock filing. Featuring a capacity of 84,000 cbm, the new vessels were built and delivered by the South Korean shipbuilder Hyundai Heavy Industries (HHI). Furthermore, the company expects the third newbuilding VLGC Aurora […]

  • 31 October 2016
    Business & Finance

    Singapore’s gas carrier owner BW LPG has decided to launch a voluntary unconditional tender offer for all the remaining shares in Oslo-listed Aurora LPG. The company is now offering either 0.3175 new common shares of BW LPG and NOK 7.40 in cash, or NOK 16 in cash for each of the remaining share in Aurora LPG. […]

  • 19 January 2017
    Business & Finance

    Aurora LPG has become a fully owned and integrated subsidiary of the Singapore-based BW LPG, with all nine of the company’s carriers now renamed. The full integration follows the acquisition of all shares in Aurora LPG by BW LPG and the delisting of Aurora from Oslo Axess in December 2016. BW LPG has also terminated all […]

  • 9 December 2015
    Business & Finance

    Singapore’s owner and operator of very large gas carriers BW LPG Limited has acquired 3 million shares in Oslo-listed Aurora LPG Holding ASA, representing 10.34% of the outstanding shares in the company. As a result of the transaction, BW LPG now holds a total of 3.59 million shares in Aurora LPG, representing 12.13% of the outstanding […]

  • 27 May 2016
    Business & Finance

    Oslo-listed LPG tanker owner Aurora LPG Holding ASA has signed the term sheet for the financing of its sixth and final newbuild vessel under construction at South Korean shipbuilder Hyundai Heavy Industries, the company said in its financial report. Furthermore, Aurora LPG secured the refinancing of its debt on three other vessels, namely, the 2008-built Aurora Taurus and Aurora […]

  • 15 December 2015
    Business & Finance

    Having been faced with mounting pressure from its two competitors Avance Gas and BW LPG, Oslo-listed Aurora LPG Holdings ASA said that it intends to intensify its efforts to crystallize underlying values, including through sale of vessels or even the company’s liquidation. “As announced in the Board Statement, it is the Board’s assessment that a liquidation […]

  • 15 December 2015
    Business & Finance

    Following last week’s purchase round, Singapore’s owner and operator of very large gas carriers BW LPG Limited has continued its purchase of shares in Aurora LPG Holdings ASA. Namely, after close of markets on 14 December 2015, BW LPG acquired a further 852,800 shares in Aurora LPG, representing 2.87% of the outstanding shares in the […]

  • 20 September 2016
    Business & Finance

    Singapore-based BW LPG Limited will launch a voluntary tender offer for all of the remaining shares in Aurora LPG after its subsidiary, BW LPG Holding Limited, bought 877,813 additional shares yesterday and increased its stake in the company to 32.79%. Following the latest acquisition, the second one this week, BW LPG Holding owns 9,730,654 shares in Aurora LPG. BW LPG now […]

  • 21 January 2016
    Business & Finance

    Oslo-listed Aurora LPG Holding ASA has concluded a USD 200 million loan facility with ABN AMRO Bank N.V. (ABN) and Korea Eximbank (Kexim). The loan has been secured for four vessels under construction at South Korean shipbuilder Hyundai Heavy Industries, the Norwegian LPG tanker owner said. “With this loan the company is pleased to announce that […]

  • 16 November 2015
    Business & Finance

    In response to the Oslo-listed Avance Gas Holdings’ bid to acquire all shares of Aurora LPG, the company expressed disagreement saying that the offer is not in line with their value. “The preliminary view of the Board of Directors is that the consideration under the Offer deviates significantly from the Company’s absolute and relative values. The Company is currently […]

  • 19 September 2016
    Business & Finance

    Singapore’s gas carrier owner BW LPG has acquired an additional 10.12% stake in Oslo-listed Aurora LPG, pushing its total ownership in the company to 29.83%. Namely, the company BW LPG purchased over 3 million shares in Aurora on September 2016, and now owns a total of 8.85 million shares. The acquisition comes on the back of the company’s loss of USD 55.6 million […]

  • 8 December 2015
    Business & Finance

    Oslo-listed Aurora LPG Holding ASA has entered into a joint venture agreement with Wilhelmsen Ship Management (WSM) for the technical management of Aurora’s VLGC fleet. The joint venture will be named “Aurora Wilhelmsen Managment Ltd” and will be incorporated in Hongkong. “The broad partnership will enable the company to provide visible presence and leadership in […]

  • 24 October 2016
    Business & Finance

    Singapore’s gas carrier owner BW LPG has further expanded its fleet as it took delivery of the first of four Very Large Gas Carriers (VLGCs) in its newbuilding program from South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME). Named BW Magellan, the new VLGC features a length of 226 meters and a width of 36.6 […]

  • 20 May 2016
    Business & Finance

    Singapore’s gas carrier owner BW LPG has increased its stake in Oslo-listed Aurora LPG by acquiring an additional 4.53 percent stake, thus pushing its total ownership to 19.53 percent, the company said in its first quarter earnings report. The move follows BW LPG’s last year’s purchase round, which has made the company Aurora LPG’s biggest shareholder. Aurora LPG owns […]

  • 9 June 2014
    Business & Finance

    After successfully delivery of the Aurora Taurus in April, Aurora LPG Holding AS also took delivery of the LPG Tanker Aurora Leo (former Mill Reef) in the beginning of June. The company also announced that the “conditions for completion” of the previously announced private placement have been met, i.a. execution of corporate resolutions, execution of the […]

  • 24 March 2017
    Business & Finance

    Singapore’s gas carrier owner BW LPG Limited has signed a debt facility agreement of USD 290 million for the refinancing of six 2016 built ex-Aurora ships. With this move, the ex-Aurora fleet is fully refinanced “at similar competitive terms and structure as the rest of the BW LPG fleet,” according to the company. “This financing exemplifies […]

  • 27 February 2017
    Business & Finance

    Due to the difficult situation in the liquefied petroleum gas (LPG) market, Singapore’s gas carrier owner BW LPG saw a drop in its full-year profit after tax (NPAT), which went down to USD 23.6 million in 2016 from NPAT of USD 326.138 million posted in 2015. Similarly, the firm’s net revenue decreased to USD 407 million in […]

  • 25 August 2016
    Business & Finance

    Oslo-listed BW LPG Limited has reported a loss of USD 55.6 million in the second quarter of 2016, representing a decrease of 168 percent from a profit of USD 80.7 million seen in the same period in 2015. The company said that the loss was mainly due to depressed LPG spot rates and impairment charges on certain […]