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

Report: Egypt’s EGAS charters Hoegh LNG’s FSRU

The Egyptian Natural Gas Holding Company (EGAS) has chartered Hoegh LNG's floating storage regasification and storage unit, Hoegh Galleon,...

Equinor says nobody injured after leak at Hammerfest LNG

Norway’s Equinor has confirmed that there were no injuries following a hydrocarbon leak at its 4.3 mtpa Hammerfest LNG...

Glenfarne’s Texas LNG inks new deal with EQT

US natural gas producer EQT has entered into a second heads of agreement for liquefaction services from Texas LNG’s...

More News Like This

Report: Egypt’s EGAS charters Hoegh LNG’s FSRU

The Egyptian Natural Gas Holding Company (EGAS) has chartered Hoegh LNG's floating storage regasification and storage unit, Hoegh Galleon,...

Hoegh LNG takes over management of Hoegh Gandria

Norwegian FSRU player Hoegh LNG has taken over the management of the 2013-built LNG carrier, Hoegh Gandria, which it...

Hoegh LNG: work progresses on Port Kembla terminal

Squadron Energy’s Australian Industrial Energy (AIE) is moving forward with construction work on its Port Kembla import terminal in...

Hoegh secures LNG carrier charter deal

Norwegian FSRU player Hoegh LNG has secured a new charter contract for its 2013-built LNG carrier Hoegh Gandria. Hoegh revealed...