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Idan Ofer buys more shares in CoolCo

By LNG Prime Staff
Idan Ofer buys more shares in CoolCo
For illustration only (Image: CoolCo)

A company controlled by Idan Ofer has purchased more shares in LNG carrier operator CoolCo, which it formed with Tor Olav Troim’s Golar LNG.

To remind, CoolCo said in April it had completed completed the purchase of all eight TFDE vessels from Golar as part of a deal revealed in December.

Ofer has the biggest stake in Oslo-listed CoolCo via EPS Ventures, a company affiliated with his Eastern Pacific Shipping and owned by Ofer’s Quantum Pacific Shipping.

According to statements by CoolCo, EPS Ventures increased its share in the LNG shipping firm from 37.59 percent on May 13 to 37.99 percent on June 17.

Prior to May 13, EPS Ventures had 15,000,000 shares, and after eight separate transactions the firm now owns 15,199,264 of CoolCo’s shares.

For the latest transaction on June 17, EPS Ventures paid 87.42 Norwegian Krone ($8.85) per share for 98,766 shares.

CoolCo’s data shows that Golar has 12,510,000 shares in the company, representing 31.2 percent of all shares in issue.

Besides owning eight TFDE LNG carriers, CoolCo manages a fleet of 20 vessels.

These include the four LNG carrier EPS bought earlier this year from the Dutch ING bank, and seven other LNG carriers and nine FSRUs, mainly owned by US LNG player New Fortress Energy.

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