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BRIEF-Hoegh LNG Partners says unit entered into term-sheet to buy additional 23.5 pct interest in joint ventures owning FSRUs Neptune and GDF Suez Cape Ann
August 24, 2017 / 5:28 AM / 3 months ago

BRIEF-Hoegh LNG Partners says unit entered into term-sheet to buy additional 23.5 pct interest in joint ventures owning FSRUs Neptune and GDF Suez Cape Ann

Aug 24 (Reuters) - Hoegh LNG Partners LP -

* Hoegh LNG Partners LP announces entry into a term-sheet to acquire an additional 23.5% interest in joint ventures owning FSRUs Neptune and GDF Suez Cape Ann

* Deal for $27.3 million

* Following the transaction, MOL will continue to hold 25% of the shares of each joint venture

* Partnership’s management believes the acquisition will be accretive

* Unit Hoegh LNG Partners Operating LLC entered into term-sheet to buy from Mitsui OSK Lines Ltd 23.5% of shares of SRV Joint Gas Ltd

* Partnership’s management evaluating whether to recommend increase in partnership’s qtly cash distribution to board as result of deal

* Unit Hoegh LNG Partners Operating Llc entered into term-sheet to buy from MOL 23.5% of shares of SRV Joint Gas Two Ltd

* Unit entered into term-sheet to buy 23.5% of outstanding shareholder loans from MOL aggregating $1.5 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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