Hoegh LNG to delist from Oslo Stock Exchange

Norway-based shipping company and FSRU operator Hoegh LNG will soon go private as part of the transaction announced in March.

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’s shareholders voted on and approved the amalgamation and delisting of shares during a special meeting held at its office in Bermuda on March 30.

The firm said in an update on Monday it obtained waivers related to certain of its secured credit agreements. Hoegh now expects the completion of the transaction to take place during the week starting May 3.

Immediately following the completion of the transaction, the amalgamated company would be wholly-owned by the JV.

After that, Hoegh added it would delist its common shares from the Oslo Stock Exchange in “due course.”

Most Popular

BW upgrades LNG carrier

Oslo-based BW LNG, a unit of Singapore’s gas shipping giant BW, is upgrading its 2019-built LNG carrier BW Pavilion Aranda with a sub-cooler.

Malaysia’s MHB bags new LNG carrier repair jobs

Malaysia Marine and Heavy Engineering (MHB) has secured new contracts to repair liquefied natural gas (LNG) carriers.

Samsung Heavy bags orders for six LNG carriers

South Korean shipbuilding giant Samsung Heavy Industries has secured contracts worth $1.54 billion to build six liquefied natural gas (LNG) carriers.

More News Like This

Wartsila bags regas module gig from Hoegh Evi

A unit of Finnish tech firm Wartsila has secured a contract from Norway's Hoegh Evi to supply a regasification module, which will be installed onboard the LNG carrier Hoegh Gandria. Once converted, the FSRU will serve in Egypt.

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.