Andreas Sohmen-Pao's BW Group has whittled down its stake in Golar LNG.
After adding to its position in September last year once the foiled Hygo Energy Transition spin-off tanked Golar LNG's share price, the Singaporean company began selling tranches, regulatory filings show.
In total, BW Group moved just over 578,000 shares — three sets of shares in November and two this month.
The sales leave BW Group with 5.06m shares, or 4.7%, down from 5.6m shares, or 5.8%, of the company.
BW Group made sales on 23, 24 and 25 November 2020, selling 218,000, 39,846 and 178,558 shares on each day at average prices of $10.06, $10.34 and $10.27, respectively.
The company dipped back into the market on 22 January 2021, selling 91,929 shares at an average of $11.33 and on 25 January, offloading 50,000 shares at an average of $11.01.
Sohmen-Pao's company had 5.2m shares in Golar LNG in October 2020, when it bought nearly 440,000 shares after former Hygo chief executive Eduardo Antonello was implicated in the Petrobras bribery scheme known as Operation Car Wash.
News of the investigation broke the same day that trading in Hygo was set to begin. The deal never formally priced. The news tanked Golar LNG's shares in the immediate aftermath and eventually led to Antonello's departure from the company.
Earlier this month, Hygo would be sold to New York-listed New Fortress Energy in a $5.3bn deal that included Golar LNG Partners.
Golar LNG's Nasdaq-listed shares closed on 26 January at $11.27, up $0.23.
Since the new year, shares have traded as high as $13.86 on 13 January when the New Fortress Energy deal was announced.
