Stolt-Nielsen Gas Ltd. and Sungas Holdings Ltd. Complete Partnership Transaction
LONDON, December 2, 2010 - Stolt-Nielsen Limited (Oslo B?rs: SNI) announced today that its subsidiary Stolt-Nielsen Gas Ltd. ("SNG") and Sungas Holdings Ltd. ("Sungas") completed the planned partnership transaction announced on November 19, 2010, whereby SNG and Sungas become equal shareholders in Avance Gas Holdings Ltd. ("Avance Gas"), which was previously wholly owned by SNG.
As part of the transaction, Sungas sold its three very large gas carriers (VLGCs) to Avance Gas. Including the former Sungas ships, Avance Gas now owns four VLGCs, operates a fifth VLGC under a time charter, and time charters a medium-sized gas carrier.
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
Jens F. Gr?ner-Hegge
V.P. Corporate Finance
UK +44 (0) 20 7611 8985
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas transports liquefied petroleum gas (LPG) with its fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.
This press release contains "forward-looking statements" based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statement. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "will," "should," "seek," and similar expressions. The forward-looking statements reflect the Company's current views and assumptions and are subject to risks and uncertainties. The Company does not represent or warrant that the Company's actual future results, performance or achievements will be as discussed in the those statements, and assumes no obligation to, and does not intend to, update any of those forward-looking statements other than as may be required by applicable law.