- The common unitholders of Höegh voted on and approved the Agreement and Plan of Merger.
- The agreement was done among Höegh LNG, Hoegh LNG Merger Sub LLC, the Partnership, and Höegh LNG GP LLC.
Merger agreement approved by Höegh LNG Partners LP common unitholders, reports Höegh LNG.
Höegh LNG
Höegh LNG is owned by Larus Holding Limited, a 50/50 joint venture between Leif Höegh & Co. Ltd. and Funds managed by Morgan Stanley Infrastructure Partners, and owns approximately 46% of Höegh LNG Partners.
It is one of the most skilled operators of LNG Carriers. It regulates worldwide with a prominent stance as the owner and operator of floating LNG import terminals, floating storage, and regasification units (FSRUs).
Its Vision is “Enabling the transition to Clean Energy”.
The merger agreement
At a special meeting, Höegh LNG declared that the common unitholders of Höegh LNG Partners LP voted on and upheld the Agreement and Plan of Merger dated 25 May 2022.
The agreement was done among Höegh LNG, Hoegh LNG Merger Sub LLC, the Partnership, and Höegh LNG GP LLC.
Under the Merger Agreement, Höegh LNG has conceded to acquire all of the outstanding common units of the Partnership for $9.25 per unit in cash. The consideration to be paid will be financed in full through an equity capital contribution from Höegh LNG’s sole shareholder.
The Merger is anticipated to close on or about 23 September 2022.
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Source: Höegh LNG
