Dorian Lpg Ltd. · NYSE:LPG
Dorian Lpg — Merger or Acquisition (May 2018)
8 slides from Dorian Lpg's merger presentation, May 29, 2018
Slide 1: BW LPG and Dorian LPG Proposed Combination
BW LPG and Dorian LPG Proposed Combination May 29, 2018
Slide 2: Forward-Looking Statements
Forward - Looking Statements This presentation includes forward - looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward - looking statements include, but are not limited to, st
Slide 3: Key Transaction Highlights
Key Transaction Highlights 2 Compelling Opportunity to Maximize Value for Dorian and BW LPG Shareholders • A larger combined fleet with better geographical coverage will provide increased value for customers • Significant free cash flow accretion to Dorian shareholders • A stronger credit profile th
Slide 4: Combined Entity Ideally Positioned to Navigate the LPG Shipping Cycle
Combined Entity Ideally Positioned to Navigate the LPG Shipping Cycle 3 Combined entity ideally positioned to navigate the LPG shipping cycle Owned and Operated Fleet VLGC LGC Average Fleet Age 8.2 3.9 6.9 VLGC: 46 LGC: 3 VLGC (NB): 2 51 4.2 million CBM 22 VLGC: 22 1.8 million CBM 73 VLGC: 68 LGC:
Slide 5: Stronger Together
Stronger Together 4 Advances vision to be Best on Water Commercial and Operational Excellence In - House, Best - in - Class Technical Management Capabilities Global Presence Across All Key Geographies Strong Safety and HSEQ Culture Decades of Operating Experience Forefront of Initiatives to Promote
Slide 6: Substantial Scope for Synergies and Operational Efficiencies
Substantial Scope for Synergies and Operational Efficiencies 5 • Highly achievable cost synergies , conservatively estimated to be c. $15mm per annum on a run - rate basis • Potential for commercial synergies through enhanced platform • Economies of scale from operating a larger fleet • Larger and b
Slide 7: Strengthened Credit Profile Increases Financial Flexibility
Strengthened Credit Profile Increases Financial Flexibility 6 Source: Company filings. Financials as of December 31, 2017. (1) Includes adjustments for illustrative conservative run - rate cost synergies of $ 15mm . (2) Excludes synergies. (3) For BW LPG, includes available cash and undrawn credit f
Slide 8: BW LPG Committed to Transaction
BW LPG Committed to Transaction 7 Combination of BW LPG and Dorian Would Create: • An industry - leading operator with the highest quality fleet • Substantial operational efficiencies and synergies driven by economies of scale of a larger fleet • Combined best - in - class operational platform to dr