Epic Gas Ltd. (OB:EPIC) entered into agreement to acquire Lauritzen Kosan A/S from J. Lauritzen on December 23, 2020. The transaction involves exchange for new shares in Epic Gas equivalent to a 27% stake in surviving entity which will continue as BW Epic Kosan and will be headquartered in Singapore, with Copenhagen as a regional office alongside offices in London, Manila, and Tokyo. Epic Gas's current Chief Executive Officer, Charles Maltby will be Chief Executive Officer of the combined entity, Lauritzen Kosan's Chief Executive Officer, Thomas Wøidemann will lead the commercial organization, and Epic Gas Chief Financial Officer Uta Urbaniak-Sage will be Chief Financial Officer.

Post-completion, BW Group will be the largest shareholder in BW Epic Kosan with 58%, followed by J. Lauritzen A/S with 27%, Tailwind, and Epic's existing minority shareholders. The shares will continue to trade on Euronext Growth Oslo as EPIC. Completion of the transaction is subject to obtaining necessary competition clearances, as well as other customary closing conditions.

The transaction is expected to close by the end of Q1 2021. SEB Corporate Finance acted as the legal advisor to Lauritzen Kosan.