J. Lauritzen A/S, Cavenham Public Growth, Local Resources Ltd., Lytra Holdings S.A. and Nicholas Lykiardopulo completed the acquisition of the remaining stake in BW Epic Kosan Ltd. (OB:BWEK).
November 19, 2023
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J. Lauritzen A/S, Cavenham Public Growth, Local Resources Ltd., Lytra Holdings S.A. and Nicholas Lykiardopulo made an offer to acquire the remaining stake in BW Epic Kosan Ltd. (OB:BWEK) for NOK 350 million on October 9, 2023. As of October 26 Buyers have received valid acceptances amounting to approximately 58.0% of the total number of Shares, and this includes acceptances received from Odfjell SE and BW Group Limited, pursuant to their respective Irrevocable Undertakings, amounting to approximately 54.1% of the total number of Shares. Transaction is expected to complete on November 20, 2023.
Wilhelm Alwén, Ole G. Stenhagen, Jon Kaznelson, Frederik Jespersen, Kristoffer Visbjerg, Philip Grimsgaard, Philip Nyhegn, Kristin Norberg and William Arnt of Skandinaviska Enskilda Banken Ab (publ) Oslofilialen Norsk Avdeling Av Utenlandsk Foretak acted as Financial advisor and Advokatfirmaet Thommessen AS acted as Legal advisor to J. Lauritzen A/S, Cavenham Public Growth, Local Resources Ltd. and Lytra Holdings S.A. , Advokatfirmaet Schjødt As acted as legal advisor, Pareto Securities AS acted as Financial advisor and Skandinaviska Enskilda Banken Ab (publ) Oslofilialen Norsk Avdeling Av Utenlandsk Foretak served as Transfer agent to BW Epic Kosan Ltd.
J. Lauritzen A/S, Cavenham Public Growth, Local Resources Ltd., Lytra Holdings S.A. and Nicholas Lykiardopulo completed the acquisition of the remaining stake in BW Epic Kosan Ltd. (OB:BWEK) on November 20, 2023.
Odfjell SE is a Norway-based company engaged in the marine industry. The Company is engaged in the provision of seaborne transportation and storage of chemicals and other specialty bulk liquids. The Company has two reportable operating segments: Chemical Tankers and Tank Terminals. The Chemical Tankers involve around the world' service, servicing ports in Europe, North and South America, the Middle East and Asia, Australia and Africa. The Tank Terminals segment offers storage of various chemical and petroleum products and is operated through joint ventures with its share owned by the subsidiary Odfjell Terminals BV. In addition, this segment plays an important operational role in cargo consolidation program so as to reduce the time its vessels spend in ports, reduce thereby emission in port, and enable the Company to be one of the world leaders in combined shipping and storage services.
J. Lauritzen A/S, Cavenham Public Growth, Local Resources Ltd., Lytra Holdings S.A. and Nicholas Lykiardopulo completed the acquisition of the remaining stake in BW Epic Kosan Ltd. (OB: BWEK).