Norway’s Höegh LNG has proposed to acquire all publicly held common units of Höegh LNG Partners in exchange for $4.25 in cash per common unit, reports Splash 247.
About the transaction
If approved, the transaction would be effected through a merger of the partnership with a wholly owned subsidiary of Höegh LNG.
Höegh LNG said on Monday that the proposed transaction is subject to the negotiation and approval of mutually satisfactory definitive documentation by the parties.
If a definitive deal is reached, the transaction will also require approval by a majority of the holders of outstanding common units in the partnership.
Höegh LNG is owned by Larus Holding, a 50/50 joint venture between Leif Höegh & Co and funds managed by Morgan Stanley Infrastructure Partners. The company owns approximately 46% of Höegh LNG Partners.
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Source: Splash 247
