Shareholders approve plan for Hoegh LNG to go private

Norway-based shipping company and FSRU operator Hoegh LNG said that its shareholders have approved a plan revealed earlier this month under which the firm would go private.

To remind, Hoegh LNG’s largest shareholder Leif Hoegh and funds managed by US-based Morgan Stanley Infrastructure Partners have formed a 50/50 joint venture named Larus Holding in an attempt to take the firm private.

Hoegh LNG said its shareholders “voted on and approved the amalgamation and delisting of shares” during a special meeting held at its office in Bermuda on Tuesday.

In addition, all of the company’s shares, other than those owned by Leif Höegh & Co. and its units, would be canceled for a consideration in cash of 23.50 Norwegian crowns ($2.75), Hoegh said.

Furthermore, Hoegh LNG added it expects the amalgamation to close, subject to several customary closing conditions, in the first half of this year.

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.

- Advertisements -

Most Popular

Hoegh’s FSRU heads to Germany to start Wilhelmshaven job

The 170,000-cbm FSRU Hoegh Esperanza is heading towards Germany to start serving the Uniper-led Wilhelmshaven facility, according to shipping...

Trafigura to supply US LNG to Germany under new deal

Commodity trader Trafigura said it would supply liquefied natural gas (LNG) from the US to Germany under a new...

Woodside plans major Pluto LNG turnaround next year

Australian LNG player Woodside is planning to shut its Pluto LNG terminal in the Pilbara region of Western Australia...

More News Like This

Hoegh’s FSRU heads to Germany to start Wilhelmshaven job

The 170,000-cbm FSRU Hoegh Esperanza is heading towards Germany to start serving the Uniper-led Wilhelmshaven facility, according to shipping...

Hoegh LNG preparing FSRUs for German jobs

Floating LNG player Hoegh LNG Holdings is working to prepare its floating storage and regasification units for the upcoming...

Germany’s first LNG jetty completed in Wilhelmshaven

Germany's first FSRU-based LNG import facility in Wilhelmshaven is now ready to welcome Hoegh’s vessel in December following the...

Germany’s Uniper awards Wilhelmshaven FSRU terminal gig to Lithuania’s KN

Lithuania’s LNG terminal operator KN has secured a contract from German energy firm Uniper to provide operational services for...