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.