Distribution services provider Stolt-Nielsen, through its subsidiary Stolt-Nielsen Gas, has signed a share purchase agreement (SPA) to take over shareholding in Avenir LNG from Golar LNG and Aequitas.

The transaction is set for completion in the first quarter of 2025 (Q1 2025), subject to the fulfilment of closing conditions.

Upon finalisation, Stolt-Nielsen Gas will hold approximately 94.37% of Avenir LNG’s outstanding shares and votes.

Avenir LNG operates a fleet of five modern small-scale liquefied natural gas (LNG) bunkering vessels and has two additional vessels under construction.

Stolt-Nielsen CEO Udo Lange said: “I am very pleased to announce this increased investment in Avenir LNG. This strategic move not only strengthens our position in the LNG sector but also underscores our commitment to pursuing more sustainable energy solutions for the maritime, industrial and power generation markets. I am excited about the possibilities ahead and confident that this partnership will propel us into new avenues of growth and impact.”

Post-acquisition, Stolt-Nielsen Gas plans to extend an offer to purchase the shares of the remaining Avenir LNG shareholders.

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Details regarding this potential offer will be disclosed on Avenir LNG’s ticker AVENIR on Euronext NOTC, contingent on the transaction’s completion.

DNB Markets, a division of DNB Bank, is serving as the financial advisor to Stolt-Nielsen in this acquisition.

Avenir LNG managing director Jonathan Quinn said: “Today marks an exciting new chapter for Avenir LNG as we continue to execute our strategy to become the leading small-scale LNG shipping and trading company.

“On behalf of the entire team at Avenir LNG, I wish to extend my thanks to the founding shareholders whose support and guidance has been instrumental in positioning Avenir LNG at the forefront of the marine energy transition since we launched in October 2018.

“With the increased support from Stolt-Nielsen Limited, Avenir LNG is well positioned to act dynamically as we pursue our growth strategy in this burgeoning market.”