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.”