Latest Deals

BW LPG has completed the $1.05bn acquisition of 12 very large gas carriers (VLGCs) from VLGC ship-owner and operator Avance Gas, following the delivery of the final vessel, BW Avior. The acquisition was settled with a combination of cash, novation of sale-leaseback agreements, and share issuance, with the shares each priced at $17.25. BW LPG has issued 2.141 million new shares to Avance Gas as part-consideration for the BW Avior vessel. This issuance increases the total number of BW LPG shares to 159.282 million, with a share capital of $619.867m.

ANOC Logistics and Services (ADNOC L&S) has concluded the acquisition of an 80% stake in Navig8, an international shipping pool operator, for $1.04bn. The remaining 20% stake in Navig8 is planned for acquisition by ADNOC L&S in mid-2027, with the price contingent on future EBITDA performance. The deal also includes a deferred payment for the remaining shares, estimated to be between $335m and $450m, to be finalised based on the company’s EBITDA over the next two years.

A consortium of investors has completed the acquisition of Hurtigruten Group, a Norwegian coastal cruise line. Hurtigruten first announced the acquisition in November 2024 by a consortium comprising Arini Capital Management, AlbaCore Capital, and Barings. The consortium has provided a long-term capital of €400m ($414m) to enable Hurtigruten to enhance guest experiences and pursue expansion opportunities.

Fincantieri has completed the acquisition of the Underwater Armaments & Systems (UAS) business line of Leonardo by purchasing the full share capital of the newly formed entity, WASS Submarine Systems, which had previously absorbed the UAS division. Under the agreement signed on 9 May 2024, Leonardo received an initial payment of €287m ($295m) at closing, based on a fixed enterprise value of €300m.