HMLP expects to wrap up merger deal with Hoegh LNG in September

New York-listed Hoegh LNG Partners, the operator of five FSRUs, is expecting its previously announced merger deal with Hoegh LNG to close this month.

Back in December 2021, Hoegh LNG submitted a non-binding proposal to HMLP’s board to buy all publicly held common units of the partnership in exchange for $4.25 in cash per common unit.

The floating LNG player more than doubled its offer to about $167.6 million in May this year and entered into an agreement and plan of merger with HMLP.

Hoegh LNG currently owns 45.7 percent of HMLP’s common units

HMLP said on Tuesday that it had notified the New York Stock Exchange (NYSE) of the anticipated closing date of the merger.

“The partnership anticipates that the merger will close on or about September 23, 2022, subject to approval of the merger agreement and merger by a majority of the outstanding common units of the partnership and certain customary closing conditions,” it said.

A special meeting of the holders of HMLP’s common units will take place on September 20 to vote on the proposed merger.

HMLP operates five FSRUs, namely Hoegh Grace, Hoegh Gallant, Cape Ann, Neptune, and PGN FSRU Lampung.

- Advertisements -

Most Popular

Tellurian says Shell, Vitol LNG supply deals terminated

US LNG firm Tellurian, the developer of the Driftwood LNG export project in Louisiana, said on Friday that its...

Energy Infrastructure Partners buys stake in Fluxys

Switzerland-based investor Energy Infrastructure Partners (EIP) has signed a deal to buy a stake in Belgian LNG terminal operator...

UAE’s Adnoc to supply LNG to Germany’s RWE

UAE’s Adnoc and Germany's RWE have signed a supply deal on the first commercial LNG delivery to the Brunsbuettel...

More News Like This

HMLP shareholders approve merger deal with Hoegh LNG

New York-listed Hoegh LNG Partners, the operator of five FSRUs, said that its shareholders have voted to approve the...

Hoegh LNG’s FSRU leaves India after contract termination

Hoegh LNG's 170,000-cbm FSRU Hoegh Giant left India following a deal with India’s H-Energy, the owner of the delayed...

Erik Nyheim takes over as CEO of Hoegh LNG

Erik Nyheim has taken over as president and chief executive officer of floating LNG player Hoegh LNG. Hoegh announced this...

Squadron says Port Kembla LNG import terminal could meet gas shortages

Andrew Forrest’s Squadron Energy says gas customers could be shielded from future shortages on the Australian east coast by...