Mergers & Acquisitions ·
StealthGas agrees to acquire four LPG carriers for $254.6M from CEO's affiliates
GASSStealthGas Inc.
StealthGas Inc. has agreed to purchase two 40,000 cbm and two 11,000 cbm LPG carriers for an aggregate price of $254.6 million from entities affiliated with its Chief Executive Officer, Harry N. Vafias. The vessels are expected to be delivered between May and September 2027, subject to stockholder approval and customary closing conditions. StealthGas intends to fund the acquisition using cash on hand, which stood at over $270 million as of November 5, 2026. The transaction will expand the company's LPG carrier fleet from 25 to 29 vessels, increasing aggregate capacity by 35% to approximately 387,017 cbm while reducing the average fleet age. StealthGas Inc. operates in the maritime transportation industry, specializing in the shipping of liquefied petroleum gas.