AmericasContracts and TendersCorporate

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

By LNG Prime Staff
HMLP expects to wrap up merger deal with Hoegh LNG in September
Image: Hoegh LNG Partners

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.

Most Popular

Contracts and Tenders

Galp wins Calcasieu Pass arbitration against Venture Global

Portuguese energy firm Galp has won an arbitration case against US LNG exporter Venture Global LNG over LNG sales from the Calcasieu Pass plant in Louisiana.
Vessels

MISC to order five more LNG carriers for Petronas charter

Malaysian shipping firm MISC will order five additional newbuild 174,000-cbm liquefied natural gas (LNG) carriers at China's Hudong-Zhonghua. The vessels will serve a 20-year charter with a unit of MISC's parent, Petronas.
LNG Terminals

Singapore LNG kicks off work on third jetty

State-owned LNG terminal operator Singapore LNG has officially kicked off the construction of a new LNG jetty, which will support the further growth of LNG bunkering in Singapore.

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.