Höegh Evi Ltd. ("Höegh Evi" or the "Company") announced that funds managed by Igneo Infrastructure Partners ("Igneo") have entered into agreements to acquire a 50% ownership stake in Larus Holding Limited, the 100% owner of Höegh Evi, from funds managed by Morgan Stanley Infrastructure Partners ("MSIP"). Aequitas Limited ("Aequitas") will retain its 50% shareholding and long-term commitment as owner in the Company.
"Höegh Evi and Aequitas deeply value the close collaboration we have had with MSIP through an extraordinary period where we strengthened our role as a market leader in LNG infrastructure and key provider of energy security in Europe. As we expand our focus to include clean energy solutions, Igneo offers deep expertise and resources to support innovation and further growth, aligning with Höegh Evi's position as global leader in floating infrastructure for energy security and the transition," said Morten W. Høegh, Chairman of Höegh Evi.
"Höegh Evi is a global leader in delivering floating energy infrastructure to countries advancing energy security and a pioneer in the energy transition. As long-term, responsible investors, we are fully aligned with Höegh Evi's strategy to continue as a trusted provider of FSRUs and LNG infrastructure, while expanding its focus to include infrastructure for ammonia, hydrogen and carbon molecules," said Niall Mills, Managing Partner and Global Head of Igneo Infrastructure Partners.
"MSIP identified Höegh Evi early as a trusted owner and operator of floating storage and regasification import terminals with strong growth potential. During our ownership, the company significantly strengthened its commercial and strategic standing. We are grateful for having had the opportunity to support Höegh Evi during this period," said Alberto Donzelli, Managing Director and Co-Head of Europe at Morgan Stanley Infrastructure Partners.
Höegh Evi is the issuer of senior unsecured bonds listed on Oslo stock exchange, with ISIN NOK0010873755 (the "Bonds"). The Company intends to repay the Bonds at maturity and before the closing of the Transaction.
The transaction is expected to close in the first half of 2025, subject to regulatory approvals and customary closing conditions.
Morgan Stanley & Co. International plc and DNB Markets, a part of DNB Bank ASA are acting as financial advisors to the Company. White & Case LLP, Kirkland & Ellis International LLP and Watson Farley & Williams LLP as legal advisors to the Seller, Aequitas and Company, respectively.
Citigroup Global Markets Limited is acting as financial advisor and Weil, Gotshal & Manges (London) LLP and Advokatfirmaet Schjødt AS are legal advisors to Igneo.
