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HMLP shareholders approve merger deal with Hoegh LNG

By LNG Prime Staff
HMLP shareholders approve merger deal with Hoegh LNG
PGN FSRU Lampung in Indonesia (Image: Hoegh LNG Partners)

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

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

HMLP said in a statement that its shareholders voted on and approved the agreement and plan of merger.

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 $9.25 per unit in cash, or 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 confirmed it expects the merger to close on or about September 23, 2022.

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

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