Limassol-based ship-owning company Robin Energy is buying an LPG carrier from a Nasdaq-listed entity controlled by its chairman and chief executive officer Petros Panagiotidis.
The company has sealed a deal to buy a 2015-built 5,000 cbm LPG carrier from AI OKTO CORP. for a purchase price of $18m.
As reported by Robin Energy, the terms of the transaction were approved by the boards of Robin Energy and AI OKTO, following the negotiation and recommendation by special committees of the independent and disinterested directors of the boards of Robin Energy and AI OKTO.
The acquisition is expected to be concluded by taking delivery of the vessel during the fourth quarter of 2026 and is subject to the satisfaction of certain customary closing conditions.
The company expects to fund the acquisition with cash on hand.
Upon completion of the transaction, the company’s fleet will comprise three LPG carriers that carry petrochemical gases worldwide.
