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Tufton Oceanic Assets buys remaining quarter of LPG carrier

By Josh White

Date: Tuesday 23 Oct 2018

Tufton Oceanic Assets buys remaining quarter of LPG carrier

(Sharecast News) - Tufton Oceanic Assets has acquired the remaining 25% interest in an LPG carrier for a cash consideration of $7.25m, it announced on Tuesday.
The London-listed specialist fund said that followed the acquisition of a 75% interest in the LPG carrier for $21.75m, as it announced on 25 July.

It was also the first investment made from the C Share proceeds, announced on 11 October.

"The vessel commenced a seven-year bareboat charter to a leading gas shipping operator on 1 August," Tufton Oceanic Assets said in its statement.

"The LPG carrier is now 100%-owned by the company after acquiring the interest held by the bareboat charterer."

Tufton Oceanic Limited, the investment manager, reportedly continued to identify an "attractive pipeline" of opportunities across a range of the company's target sectors, the board added.

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