Avance Gas Holding (AVACF) has released an update.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Avance Gas Holding has completed the sale of its VLGC fleet to BW LPG for $1,050 million, making it the second largest shareholder with a 12.1% stake. The company plans to distribute BW LPG shares to its shareholders after a 40-day lock-up period, along with announcing fourth-quarter results in February 2025. The sale generated approximately $240 million in net cash proceeds, and Avance Gas is preparing for a capital reduction to distribute assets before winding up.
For further insights into AVACF stock, check out TipRanks’ Stock Analysis page.