Scorpio Tankers Inc. announced that it has agreed to sell 3,392,083 common shares of Dorian LPG Ltd. owned by the company to Sino Energy Holdings LLC, for a purchase price of $16.16 per share. The shares will 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.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 76 tankers (16 LR2 tankers, 15 Handymax tankers, and 45 MR tankers) with an average age of 1.0 years, time charters-in 17 product tankers (four LR2, four LR1, four MR and five Handymax tankers), and has contracted for eight newbuilding product tankers (one MR and seven LR2), four of which are expected to be delivered in the third quarter of 2015 and the remaining four vessels throughout 2016. Until the above mentioned transaction closes, the Company owns approximately 5.8% of Dorian LPG Ltd.