Dorian LPG Completes Acquisition of Scorpio Tankers’ Newbuilding Contracts

Dorian LPG Ltd. announced that it has successfully concluded its previously announced agreement with Scorpio Tankers Inc. to acquire its Very Large Gas Carrier (“VLGC”) newbuilding contracts, associated deposits of $83.1 million, and a cash contribution of $1.9 million in exchange for 39.9 million newly issued Dorian LPG shares representing 30% of the Company’s pro-forma outstanding shares.

Concurrent with the completion of the transaction between Dorian LPG and Scorpio Tankers, Dorian LPG has also closed its subscription for its private placement of 80,405,405 shares to Norwegian and international institutional investors at a price of NOK 18.50 which represents approximately $250 million in gross proceeds. The Company now has 213,579,150 shares issued and outstanding.

Dorian LPG also declared the 2 options that were acquired from Scorpio Tankers thereby increasing its fleet to 16 ECO VLGC with deliveries in 2014 and 2015 from Hyundai Heavy Industries Group (“HHI”) and Daewoo Shipping and Marine Engineering Ltd.

Dorian LPG, November 27, 2013

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >