BW LPG (BWLPG.OL) said its partly owned Indian subsidiary agreed to sell the BW Elm vessel for expected net cash proceeds of $64 million.
The sale is expected to result in a net book gain of $36 million on a 100% basis, according to a Friday release. BW LPG owns a 52% stake in the seller, BW LPG India.
The 2007-built vessel is expected to be delivered to the buyer by mid-August.
Moody's on Thursday affirmed its long-term issuer rating on Italgas (IG.MI) at Baa2 and changed the outlook to positive from stable.The outlook revision reflects Moody's expectation that the Italian gas distributor will maintain its solid operational performance after announcing its strategic plan for the 2026 to 2032 period. The company's financial profile is expected to continue strengthening in the coming years and may lead to a rating upgrade, Moody's added.The rating affirmation, meanwhile, is supported by the "limited complexity" in Italgas' new strategic plan, alongside its gas distribution focus in Italy and the country's regulatory framework, among others.
Devon Energy (DVN) has an average rating of buy and mean price target of $59.92, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $42.41, Change: $-0.91, Percent Change: -2.09%
Exxon Mobil (XOM) has an average rating of overweight and mean price target of $167.10, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)