Leif Hoegh, Morgan Stanley wrap up Hoegh LNG deal

Leif Hoegh and funds managed by US-based Morgan Stanley Infrastructure Partners have completed the previously announced acquisition of Norway-based shipping firm and FSRU operator Hoegh LNG.

To remind, the two firms have formed a 50/50 joint venture named Larus Holding in an attempt to take the floating LNG player private.

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

With the completion of the amalgamation, the JV intends to undertake a “comprehensive review of the company’s operational and financial strategy and that of its affiliates to strengthen the financial profile of the group and will carefully review its integrated business plan including future financial needs,” Hoegh LNG said in a statement on Tuesday.

Hoegh LNG will now also delist its common shares from the Oslo Stock Exchange.

The firm previously said that the common and preference units of Hoegh LNG Partners would remain outstanding and continue to trade on the New York Stock Exchange.

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

NextDecade, Bechtel agree $9 billion EPC deals for two Rio Grande LNG trains

US LNG firm NextDecade and compatriot Bechtel have finalized EPC contracts worth $9.09 billion for the construction of the fourth and fifth trains and related infrastructure at the Rio Grande LNG facility in Texas.

Atlantic LNG shipping rates jump to $49,750 per day

Atlantic spot LNG shipping rates rose to $49,750 per day this week, while European prices also jumped compared to the previous week.

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.