Avance Gas Holding Ltd. (Avance Gas) (OSE: AGAS) announced earlier today the successful sale of newbuilding hull 2367 with intended name Avance Castor for a cash consideration of $120 million less broker commission as previously announced in a press release dated December 8, 2023.
The Company expects to record a book gain on sale and cash release following repayment of bank financing of $36 million and $61 million respectively.
The sale of the sister ship, newbuilding hull 2368 with intended name Avance Pollux, is scheduled to take place in the first half of May 2024. This sale is also expected to result in a book gain and cash release of $36 million and $60 million respectively.