Leif Hoegh & Co. & Funds Completes Acquisition of Hoegh LNG

Source: www.gulfoilandgas.com 5/4/2021, Location: South America

Larus Holding Limited (“JVCo”), a 50/50 joint venture between Leif Hoegh & Co. Ltd. (“LHC”) and Funds managed by Morgan Stanley Infrastructure Partners (“MSIP”), announced the completion of the acquisition by way of amalgamation (the “Amalgamation”) of all of the issued and outstanding shares of Hoegh LNG Holdings Ltd. ("Hoegh LNG" or the “Company”) not owned by LHC or its affiliates, as referred to in previous announcements by the Company on 8 March 2021 and 19 April 2021.

The Amalgamation has been duly registered in the Bermuda Registrar of Companies, having been effected by way of an amalgamation between Larus Limited, a wholly owned subsidiary of JVCo, and the Company. Shareholders of the Company (other than holders of Excluded Shares, as defined in the amalgamation agreement) as at the expiry of 4 May 2021 (the cut-off date), as they appear in the Company's shareholders register with the VPS as at the expiry of 6 May 2021 (the record date), will receive the amalgamation consideration amounting to NOK 23.50 for each Company share that they held.

With the completion of the Amalgamation, JVCo intends to undertake a comprehensive review of the Company’s operational and financial strategy and that of its affiliates to strengthen the financial profile of the group and will carefully review its integrated business plan including future financial needs.

As previously noted, the common and preferred units of Hoegh LNG Partners LP (the “Partnership”) will remain outstanding and continue to trade on the New York Stock Exchange.

JVCo, together with units owned directly by LHC, now owns and controls a 47.1 percent equity interest in the Partnership as well as 100% of the incentive distribution rights and the non-economic general partner interest in the Partnership.


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