Avance Gas Holding (AVACF) has released an update.
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Avance Gas Holding has delivered its fourth VLGC vessel, Passat, to BW LPG, receiving 1.35 million shares in BW LPG, equating to a 4.2% ownership stake. The company expects to collect $21 million in net cash proceeds from this transaction. With eight more vessels set for delivery by year-end, Avance Gas is poised for further developments in its fleet sale.
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