After finalizing the acquisition of 95% of the shares of the UK-based midstream LNG & BioLNG company Avenir LNG, Stolt-Nielsen, a Norway-based company specializing in chemical and bulk liquid transportation and storage, has disclosed its intention to buy the latter’s remaining shares.
The completion of the transaction enabled Stolt-Nielsen to increase its stake in Avenir LNG to 95% by buying shares previously held by Golar LNG and Aequitas. The purchase was done through its subsidiary Stolt-Nielsen Gas, as disclosed in late January.
In line with applicable legislation, the Norwegian player can now acquire the remaining shares in Avenir LNG by way of compulsory acquisition, which its board of directors decided to go through with at a purchase price of $1 per Avenir LNG share.
The completion of the compulsory acquisition and settlement of the purchase price are expected on or about April 16, 2025, subject to conditions precedent. After that, the Norwegian firm intends to delist Avenir LNG’s shares from Euronext N-OTC.
Avenir LNG owns and operates a fleet of five LNG bunker and supply vessels with two more under construction. The newbuilds are scheduled to be delivered in Q4 2026 and Q1 2027.