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-Chilean Ultragas to squeeze out U-Sea Bulk Shipping's minority stockholders.

NORDIC BUSINESS REPORT-December 2, 2011--Chilean Ultragas to squeeze out U-Sea Bulk Shipping's minority stockholders(C)2011 M2 COMMUNICATIONS http://www.m2.com

2 December 2011 - Chilean shipowner Ultragas ApS said Thursday it will fulfill its intention to squeeze out the minority shareholders of Danish company U-Sea Bulk Shipping A/S (CPH:USEA), after exceeding the 90% threshold, requiring a compulsory acquisition.

Ultragas, part of Navieras Ultragas Ltda, now owns 24.5 million shares, or 90.49%, in U-Sea Bulk Shipping, after buying earlier on Thursday 414,130 shares, priced DKK28.77 each.

On 30 November, Ultragas announced its intention to take full control over U-Sea Bulk Shipping at a price of DKK28.77 apiece. The compulsory acquisition is expected to run to 29 December, when the shares in U-Sea Bulk Shipping are due to be delisted from the Copenhagen exchange.

(EUR1 = DKK7.4)

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Publication:Nordic Business Report
Date:Dec 2, 2011
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