Mergers & Acquisitions ·
StealthGas seeks shareholder approval for $254.6M acquisition of four LPG carriers
GASSStealthGas Inc.
StealthGas Inc. is soliciting stockholder votes at a special meeting on December 11, 2026, to approve the acquisition of four liquefied petroleum gas (LPG) carriers from entities affiliated with CEO Harry N. Vafias for an aggregate purchase price of $254.6 million. The transaction involves two 40,000 cbm fully-refrigerated vessels and two 11,000 cbm fully pressurized vessels built between 2023 and 2026 in South Korea and Japan. Delivery is expected by September 2027 on a charter-free basis. The acquisition will expand the company's fleet from 25 to 29 vessels, increasing aggregate capacity by 102,000 cbm (35%) while reducing the average fleet age from 12.1 to 10.8 years. StealthGas intends to fund the purchase with cash on hand, maintaining its debt-free balance sheet strategy.