Capital Product Partners rises on $3.1 bln deal for LNG carriers

Capital Clean Energy Carriers

13/11/2023 14:03

** Shares of vessel owner Capital Product Partners  CPLP.O 
rise 8.54% at $14.11 premarket
    ** Co adds 11 newly built LNG carriers from Capital Maritime
for $3.1 bln
    ** "We are well positioned to take advantage of the strong
fundamentals of the LNG industry ...we expect our contracted
revenues to increase by 87% to $3.1 billion (following deal
close)," says CEO Jerry Kalogiratos
    ** Co says new carriers will enter its fleet during 2023-27
    ** Co says it will also look to sell its non-core container
vessels after closing the deal with Capital Maritime & Trading
Corp and Capital GP
    ** Co to change name to Capital New Energy Carriers L.P.,
effective by December 31, 2023
    ** Co posts adj. EPS of 84 cents per share vs analysts'
estimate of 65 cents per share - LSEG
    ** Up to last close, stock is down 4.76% YTD 
    

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))