Fredriksen ups Flex ante

John Fredriksen has invested a further $12m to build a dominant position in LNG owner Flex.

Fredriksen’s Geveran Trading has snapped up 12.67 million shares in the Oslo-quoted company to take its holding to 16.1%.

The shares, bought at NOK 6 ($0.99) apiece, have been purchased eight months after Fredriksen took an interest in Flex.

Flex controls two newbuildings at Samsung Heavy Industries, which analysts have identified as the cheapest LNG ships in the market.

Flex recently secured funding for the vessels up until delivery and is mulling its strategic options once the newbuildings hit the water.

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