Hoegh LNG wraps up HMLP acquisition

FSRU player Hoegh LNG has completed its previously announced acquisition of New York-listed Hoegh LNG Partners.

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.

HMLP’s shareholder recently voted on and approved the agreement and plan of merger.

As a result of the completion of the acquisition, the common units of HMLP would no longer be listed on any quotation system or exchange, including the NYSE, Hoegh LNG said in a statement.

HMLP’s 8.75 percent Series A Cumulative Redeemable Preferred Units will remain outstanding.

“The Partnership’s reporting obligations with respect to the outstanding Series A Preferred Units under the United States Securities Exchange Act of 1934, as amended, and the NYSE remain unchanged,” Hoegh LNG said.

HMLP’s fleet includes five FSRUs, namely Hoegh Grace, Hoegh Gallant, Cape Ann, Neptune, and PGN FSRU Lampung.

Hoegh LNG now has ten FSRUs and two LNG carriers in its fleet.

Most Popular

Venture Global reveals LNG fleet details

US LNG exporter Venture Global LNG has revealed more details regarding its fleet of nine owned and three chartered liquefied natural gas carriers.

NFE working on two more FSRU charter deals

US LNG player New Fortress Energy is in advanced talks to charter two more floating and regasification units, according to its management.

CEO: Venture Global to sign multiple 20-year LNG contracts in coming quarters

US LNG exporter Venture Global LNG expects to sign and report on multiple 20-year LNG supply contracts in the incoming quarters, according to CEO Mike Sabel.

More News Like This

Seatrium scores FSRU conversion job from Hoegh Evi

Singapore’s Seatrium has secured a contract from Norway's Hoegh Evi to convert the latter's LNG carrier Hoegh Gandria into a floating storage and regasification unit.

Egypt’s EGAS inks new FSRU charter deal with Hoegh Evi

Norwegian FSRU player Hoegh Evi has signed a new charter deal with Egypt’s EGAS to deploy a converted FSRU in Egypt. Hoegh Evi will convert the LNG carrier Hoegh Gandria to a floating storage and regasification unit.

VTTI, Hoegh Evi launch permitting process for Dutch FSRU terminal

Rotterdam-based storage terminal owner VTTI, co-owned by Vitol, IFM, and Adnoc, and Norwegian FSRU player Hoegh Evi have officially launched the permitting process for their FSRU-based facility in the Netherlands.

Igneo Infrastructure Partners wraps up Hoegh Evi stake buy

Infrastructure firm Igneo Infrastructure Partners has completed its previously announced acquisition of a 50 percent ownership stake in Norwegian FSRU player Hoegh Evi.