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Cool Company (CoolCo) announced on Friday that EPS Ventures has acquired 100,000 shares in the company from Norway-based Langebru, at a price of 61.50 Norwegian krone ($6.09) per share.
EPS Ventures is a company affiliated with Idan Ofer’s EPS.
Following the transaction, EPS Ventures holds a total of 31,354,390 shares in Cool, equivalent to 59.1 percent of the company’s shares.
CoolCo noted that EPS Ventures is a close associate of Cyril Ducau, chair of the board of the company, and Joanna Zhou, director of the company, while Langebru is a close associate of Peter Anker, director of the company.
CoolCo has seven TFDE LNG carriers, which it acquired from Golar LNG, and the four LNG carriers it purchased from affiliates of EPS Ventures.
In addition to these vessels, CoolCo purchased two new LNG carriers from EPS.
In June 2023, the shipping firm exercised its option with affiliates of EPS Ventures to acquire newbuild contracts for the two 2-stroke LNG carriers.
In May last year, CoolCo entered into a 14-year charter deal with India’s largest gas utility GAIL for one of the newbuild LNG carriers.
The vessel in question is Kool Panther, now named GAIL Sagar.
CoolCo took delivery of GAIL Sagar in January this year.
The company recently also said it found employment in the spot market for the second newbuild vessel, Kool Tiger, while it is still looking to employ the vessel on a long-term charter.