Avance Gas Holding Ltd (OSE: AGAS) announced on Thursday the successful completion of the 2008-built VLGC Thetis Glory previously announced in a press release dated 13 January 2022.
Following debt repayment, the sale will generate approximately USD 22.5 million in net cash proceeds and a book profit of approximately USD 6 mill to be recognised in the first quarter 2022.
The sale follows the company's fleet renewal strategy, reducing average age and emissions while improving the fuel efficiency of the overall fleet.