Norwegian shipping company Stolt-Nielsen, through its subsidiary Stolt-Nielsen Gas, has completed its purchase of the shares of all remaining shareholders in UK-based Avenir LNG, namely Golar LNG and Aequitas, in fulfilment of a share purchase agreement signed in January 2025.
With the completion of the transaction, Stolt-Nielsen Gas now holds more than 95 per cent of the outstanding shares and votes in Avenir LNG.
As the holder of more than 95 per cent of Avenir LNG’s shares, Stolt-Nielsen Gas is able to acquire the remaining shares in Avenir LNG by way of a compulsory acquisition, in accordance with section 103 of the Companies Act 1981 of Bermuda (Bermuda Companies Act).
The board of directors of Stolt-Nielsen Gas has resolved to proceed with this compulsory acquisition, and a notice informing Avenir LNG's shareholders of the compulsory acquisition has been issued.
The parties expect completion of the compulsory acquisition and settlement of the purchase price are expected to occur on or about April 16, 2025.
Avenir LNG owns and operates a fleet of five modern small-scale LNG bunkering and supply vessels. Another two newbuildings, each measuring 160 metres long and with a total cargo capacity of 20,000 cubic metres, are under construction at Nantong CIMC Sinopacific Offshore and Engineering in China and are scheduled to be delivered by the first quarter of 2027.