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C-Gas or B-Gas, it still gets an A – The Acquisition of Eitzen Gas

Last Friday, Camillo Eitzen & Co. ASA (“CECO”) announced that the sale of Eitzen’s owned semi-re fleet, its 100% interest in Eitzen Gas A/S and the back to back lease of five pressurized LPG vessels to B-Gas Limited, an investment company established by Pareto Project Finance AS, had been concluded on terms materially similar to those announced in July. It is the nearly the end of CECO’s adventure in gas, which will leave them with a book profit on this transaction of $12 million and a 20% interest in Eitzen Ethylene Carriers, which will be acquired by Jaccar Holdings by the end of this month.

This is only an excerpt of C-Gas or B-Gas, it still gets an A – The Acquisition of Eitzen Gas

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