Camillo Eitzen completes Sigloo Gas takeover deal

Source: ICIS News

2006/01/03

LONDON (ICIS News)--Norway-headquartered shipowner Camillo Eitzen said on Tuesday it has acquired the remaining 17.5% outstanding shares in Norwegian ethylene carrier Sigloo Gas under a takeover deal agreed last month.

It now owns 100% of Sigloo Gas.

Camillo Eitzen said the terms of the acquisition value Sigloo Gas’s seven-strong fleet at $100m (Euro84m).

The group also said it has sold the liquefied petroleum gas (LPG) tanker Sigas General to Intergaz of Cyprus as part of its fleet renewal programme. The 1982 built, 3,500 cubic metres capacity, vessel was delivered to its new owners on 28 December 2005.