Listed company BW enters liquefied petroleum gas trading segment
Thanks to Vilma’s unique position in the market and the experience of the management team, Livingstone has managed to lead a competitive sale process that has resulted in a successful transaction for both parties.
Vilma Oil is an independent oil and gas trader, founded in Madrid in 1996 by a group of experienced professionals in the international oil trading sector. The company has grown continuously since inception, becoming an established and highly respected player in the Oil Industry.
Based on Vilma’s unique position in the trading industry, Livingstone managed to lead a structured sales process, leveraging the team’s expertise in the sector, resulting in a successful transaction.
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping and experienced seafarers and staff, BW LPG offers a flexible and reliable service to customers.
The acquisition was signed last August but was subject to approval from the Spanish regulatory authorities.
“The transaction will definitely contribute to the growth of the LPG business”, shared Rafael Fernandez-Maquieira, CEO of Vilma Oil. “I would like to thank Livingstone for their reliable advice throughout the sales process, helping us to navigate a very dynamic market environment during the entire process.”
“We are pleased we were able to successfully accompany Vilma Oil in a competitive process and believe the LPG team found the right partner in BW“, added Juan Romero, Director at Livingstone in Madrid.
Anders Onarheim, CEO of BW LPG says: “The acquisition brings a highly experienced team with a strong track record to BW LPG and is in line with our strategy to support our core shipping business – we want to remain the world’s leading LPG shipping company, delivering cleaner-burning energy safely and sustainably to our customers. We look forward to bringing new colleagues onboard and returning even greater value to shareholders.”
Mavens Abogados acted as legal advisors to Vilma Oil during the process.
