Contracts and TendersCorporateEurope

Leif Hoegh, Morgan Stanley wrap up Hoegh LNG deal

By LNG Prime Staff
Leif Hoegh, Morgan Stanley wrap up Hoegh LNG deal
For illustration only (Image: Hoegh LNG)

Leif Hoegh and funds managed by US-based Morgan Stanley Infrastructure Partners have completed the previously announced acquisition of Norway-based shipping firm and FSRU operator Hoegh LNG.

To remind, the two firms have formed a 50/50 joint venture named Larus Holding in an attempt to take the floating LNG player private.

Hoegh LNG’s shareholders voted on and approved the amalgamation during a special meeting held at its office in Bermuda on March 30.

With the completion of the amalgamation, the JV intends to undertake a “comprehensive review of the company’s operational and financial strategy and that of its affiliates to strengthen the financial profile of the group and will carefully review its integrated business plan including future financial needs,” Hoegh LNG said in a statement on Tuesday.

Hoegh LNG will now also delist its common shares from the Oslo Stock Exchange.

The firm previously said that the common and preference units of Hoegh LNG Partners would remain outstanding and continue to trade on the New York Stock Exchange.

Most Popular

Contracts and Tenders

Venture Global seals new deals to support expansion of its power network

US LNG exporter Venture Global has entered into power and grid frame agreements with GE Vernova and Baker Hughes for up to 16 new, 720 MW power island units and associated power transformer equipment, supporting the continued expansion of its existing behind-the-meter, industrial power network that is not reliant on the grid.
LNG Terminals

Venture Global gets approval to place first Plaquemines LNG phase in service

Venture Global’s Plaquemines LNG has secured approval from the US FERC to place Phase 1 of its LNG export plant in Louisiana into service.
Vessels

Hanwha Ocean, Posco plan to build LNG carrier with high-manganese steel tanks

South Korean shipbuilder Hanwha Ocean and steel producer Posco plan to build a liquefied natural gas (LNG) carrier equipped with high-manganese steel cargo tanks.

More News Like This

LNG Terminals

Hoegh Evi to develop Malaysian LNG terminal

Norwegian FSRU player Hoegh Evi has signed a deal with Sarawak’s state-owned oil and gas company Petros to jointly develop an FSRU-based LNG import terminal in Malaysia's Sarawak state.
Vessels

Hoegh Evi wraps up $1.85 billion refinancing

Norwegian FSRU player Hoegh Evi has completed a $1.85 billion refinancing transaction to support the next phase of growth.
LNG Terminals

Indonesian FSRU wraps up 100th STS LNG transfer

Hoegh Evi’s Lampung FSRU, which serves Pertamina’s Perusahaan Gas Negara off the southeast coast of Sumatra in Indonesia, has completed its 100th ship-to-ship LNG transfer since it started operations in 2014.
LNG Terminals

VTTI, Hoegh Evi launch open season for Dutch LNG terminal

Rotterdam-based storage terminal owner VTTI, co-owned by Vitol, IFM, and Adnoc, and Norwegian FSRU player Hoegh Evi launched an open season for regasification capacity for their planned FSRU-based facility in the Netherlands.