July 01:
Source: http://www.naturalgaseurope.com/belgiums-exmar-norways-geveran-join-forces-for-new-lng-company-24453?
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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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