• 2019 March 19 15:53

    BW Group purchases a majority stake in Epic Gas from key shareholders and launches unconditional tender offer

    BW Group has purchased 38,548,329 shares in Epic Gas from key shareholders of Epic Gas representing 54.7% of the issued shares, and launches its unconditional tender offer to acquire the remaining shares (the "Offer) for a per share consideration equal to the sum of:
    (i) USD 1.60, plus
    (ii) an additional consideration equal to USD 3,500,000 divided by the total number of shares acquired under the Offer and the Share Purchase, provided that the additional consideration will in no event be higher than USD 0.10 per share.

    The shareholders of Epic Gas may accept the Offer in the period from and including today, 19 March 2019, to and including 12 April 2019 at 16:30 hours (CET). BW Group may at its sole discretion extend the offer period (one or more times), but the offer period will in no event be extended by more than four weeks. Settlement of the Offer is expected to be made no later than three business days following expiry of the offer period.

    Subject to the final level of acceptances after the expiry of the offer period, BW Group intends for Epic Gas to maintain its listing on Merkur Market and welcomes shareholders who would like to continue to hold shares in the company.

    Epic Gas is the largest commercial operator and second largest owner of small pressurized LPG carriers. It has a fleet of 39 vessels ranging from 3,500 to 11,000 cbm that typically serves the short-haul or regional LPG and chemicals trade.

    About BW Group

    BW Group is a leading global maritime group involved in shipping, floating gas infrastructure and deepwater oil & gas production, and has been delivering energy and other vital commodities for more than 80 years, with a controlled fleet of over 300 ships including affiliates and subsidiaries. The group was founded by Sir YK Pao in Hong Kong in 1955 as World-Wide Shipping. In 2003, the group acquired Bergesen, Norway’s largest shipping company founded in 1935, and in 2005, the business was re-branded as BW. Today, BW Group operates the world’s largest gas shipping fleet (LNG and LPG combined), with a total of 70 large gas vessels, including three FSRUs (floating storage and regasification units). BW Offshore operates the world’s second largest floating oil and gas production fleet (FPSOs), with 15 units in US, Brazil, Mexico, West Africa, North Sea, and Australasia. BW’s fleet also includes crude oil supertankers, refined oil tankers, chemical tankers and dry bulk carriers.




2020 August 12

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2020 August 11

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2020 August 10

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2020 August 9

16:21 MPA launches six next-generation patrol craft to grow its frontline capabilities
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