The 3 Week Diet System

Wednesday, July 1, 2015

BELGIUM’S EXMAR, NORWAY’S GEVERAN JOIN FORCES FOR NEW LNG COMPANY

July 01:

Norwegian-born shipping magnate John Fredriksen and Belgium-based Exmar jointly create Flex LNG, a company with interests in 6 LNG carriers, 5 Floating Storage and Regasification Units, and 2 Floating Liquefaction Units. The intention is to pursue further growth within the LNG value chain, tapping the opportunities stemming from the fast growing LNG market.  
‘The company will be known as Exmar LNG Ltd following the Transaction, which is expected to close during the 3rd Quarter of 2015, subject to satisfaction of certain conditions, including satisfactory due diligence, agreement on definitive transaction documents, shareholder approvals, receipt of all stakeholders approvals and receipt of all regulatory and financial institutions approval’ reads a note released on Wednesday.
The parties - Exmar and Fredriksen’s Geveran - will transfer liquefied natural gas assets to Flex LNG. 
According to Exmar, Flex LNG will have an estimated enterprise value of approximately USD 2.3 billion and an equity value of approximately USD 823.3 million, ‘creating one of the largest independent floating LNG infrastructure players in the market.’

‘Upon completion of the Transaction, Exmar will own … 64.6 per cent of the outstanding shares and votes, and Geveran will own … 30.7 per cent of the outstanding shares and votes.’

Source: http://www.naturalgaseurope.com/belgiums-exmar-norways-geveran-join-forces-for-new-lng-company-24453?

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