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.
