Avenir: Stolt-Nielsen Launches Compulsory Share Acquisition
Deal News | Mar 05, 2025 | Globenewswire
Stolt-Nielsen Limited, through its subsidiary Stolt-Nielsen Gas Ltd., has initiated a compulsory acquisition of the remaining shares of Avenir LNG Limited. The company had previously entered into an agreement to purchase shares held by Golar LNG Limited and Aequitas Limited. Following the completion of this transaction, Stolt-Nielsen Gas Ltd. now holds over 95% of Avenir LNG's shares, enabling it to acquire the remaining shares in accordance with Bermuda's Companies Act. The acquisition price is set at $1.00 per share, with settlement expected around mid-April 2025. Avenir LNG shareholders have until mid-April to apply to the Supreme Court of Bermuda for a valuation appraisal, if they wish. Pending any opposing shareholder moves, Avenir LNG shares are expected to be delisted from the Euronext N-OTC. DNB Markets is advising Stolt-Nielsen on the financial aspects of this transaction. This marks a significant expansion in Stolt-Nielsen's control over LNG logistics.
Sectors
- Energy
- Finance
- Logistics
Geography
- Bermuda – The legal framework for the acquisition of Avenir LNG shares is governed by the Companies Act of Bermuda.
- Norway – Stolt-Nielsen Limited, listed on the Oslo Stock Exchange, is based in Norway and is orchestrating the acquisition.
- United Kingdom – Contact persons for the transaction, including top executives of Stolt-Nielsen, are based in the UK.
Industry
- Energy – The article discusses the acquisition of Avenir LNG Limited, a company involved in Liquefied Natural Gas, which is a key energy resource.
- Finance – Stolt-Nielsen Limited is utilizing financial mechanisms for the acquisition under Bermuda's Companies Act, indicating significant involvement in finance.
- Logistics – Stolt-Nielsen’s interest in Avenir LNG aligns with its business focus on logistics and distribution.
Financials
- 1.00 USD per Avenir LNG share – Purchase price set for the compulsory acquisition of Avenir LNG shares.
- NOK 11.19 per Avenir LNG share – Equivalent settlement amount per share in Norwegian currency, based on Norges Bank's mid-rate.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stolt-Nielsen Limited | Acquiring Company | Company | A global investor and manager focusing on logistics, distribution, and aquaculture, listed on Oslo Stock Exchange. |
| Avenir LNG Limited | Target Company | Company | A company involved in LNG logistics, targeted for acquisition by Stolt-Nielsen. |
| Golar LNG Limited | Selling Company | Company | One of the initial shareholders of Avenir LNG, selling shares to Stolt-Nielsen. |
| Aequitas Limited | Selling Company | Company | Another shareholder selling its stake in Avenir LNG to Stolt-Nielsen. |
| DNB Markets | Financial Advisor | Company | Part of DNB Bank ASA, providing financial advisory services to Stolt-Nielsen for the acquisition. |
| Equro Issuer Services AS | Registrar | Company | Acts as Avenir LNG's registrar in the VPS system, managing shareholder interests in SNDRs. |