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Sold to Skaugen Gas of Norway for $ 25 mill (Buying company is owned 35% by Sellers)

I.M. Skaugen SE sells gas carrier ‘Norgas Sonoma’ to SGPC

I.M. Skaugen SE abbounced that the LPG/Eth Gas Carrier “Norgas Sonoma”, a 8,556 cbm SR vessel built in 2003, was sold for USD25 million to Skaugen Gulf Petchem Carriers B.S.C. (SGPC), a strategic partner and associated company owned 35% by IMS and part of IMS’ core business; liquefied gas transportation, said in the company's press release. The vessel was delivered to the new owners on 27th June 2013. IMS Group holds a 35% equity stake in SGPC and will through this transaction thus reduce its equity interest in the vessel with 65% and on a consolidated level the result from the vessel will be reduced to 35% of the vessels earnings. The vessel will continue to operate in the Norgas pool and under Norgas management.