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.

- Advertisements -

Most Popular

Spark: spot LNG shipping rates ease this week

Spot charter rates for the global liquefied natural gas (LNG) carrier fleet declined this week as vessel availability increased,...

Pilot LNG, Seapath plan to build $150 million US bunkering facility

Houston-based Pilot LNG is joining forces with Libra Group's maritime unit Seapath to build what they say is the...

US weekly LNG exports down to 21 shipments

US liquefied natural gas (LNG) exports declined in the week ending September 27 compared to the week before, according...

More News Like This

Loaded FSRU on way to France’s Le Havre

The FSRU Cape Ann, chartered by TotalEnergies, has loaded a cargo off Gibraltar via a ship-to-ship operation and...

Lithuania’s KN selects Hoegh LNG to operate Klaipeda FSRU for five years

Lithuania’s KN, the state-owned operator of the country’s first LNG import facility in Klaipeda, has selected a unit of...

Hoegh LNG, Aker BP enter CCS pact

Norwegian FSRU player Hoegh LNG and compatriot oil and gas firm Aker BP have entered a strategic partnership to...

Hoegh LNG’s FSRUs to start work in Brazil and France

FSRU owner Hoegh LNG Holdings said on Wednesday that its near-term focus is to ensure its FSRU projects start...