Mergers & Acquisitions ·
Robin Energy agrees to acquire LPG carrier for $18M from related party AI OKTO Corp
RBNERobin Energy Ltd.
Robin Energy has entered into an agreement through a wholly owned subsidiary to purchase a 2015-built, 5,000 cbm LPG Carrier vessel from AI OKTO Corp, a Nasdaq-listed entity controlled by Robin Energy's Chairman and CEO. The transaction carries a purchase price of $18 million and is expected to close upon delivery in the fourth quarter of 2026, subject to customary closing conditions. Robin Energy intends to fund the acquisition using cash on hand. Both boards approved the deal following recommendations from independent special committees. Upon completion, Robin's fleet will consist of three LPG carriers engaged in global petrochemical gas transportation.