FLNGo - FLEX LNG News Story

NOK103 3.8  3.8%

Last Trade - 11/05/21

Mid Cap
Market Cap £459.8m
Enterprise Value £1.36bn
Revenue £116.5m
Position in Universe 505th / 1835

BRIEF-EXMAR to create integrated LNG company with Flex and Geveran

Wed 1st July, 2015 7:02am
July 1 (Reuters) - Exmar NV  EXMR.BR : 
    * Announces it has agreed with Flex LNG (FLEX)  FLNG.OL  and 
Geveran Trading Co. Ltd. (GEVERAN) on the main terms of a 
transaction whereby GEVERAN's Liquefied Natural Gas (LNG) assets 
and EXMAR's LNG assets and Liquefied Natural Gas Infrastructure 
(LNGI) will be contributed to Flex  
    * Assets top be contributed in exchange for new shares in 
Flex issued to EXMAR and GEVERAN 
    * New company will be known as Exmar LNG Ltd following the 
transaction, which is expected to close during the third quarter 
of 2015 
    * Upon completion of the transaction, the company will have 
an estimated enterprise value of about $2.3 billion and an 
equity value of about $823.3 million 
    * Upon completion of the transaction, Exmar will own 
323,723,775 shares in the company (64.6 percent) and Geveran 
will own 153,748,561 shares in the company (30.7 percent) 
Source text: http://bit.ly/1HtHI0N 
Further company coverage:  EXMR.BR  
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 6983920;))
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