Stabilis Energy gains after deals to expand in Mexico

Stabilis Solutions

21/08/2019 16:22

** Shares of the oil and gas transportation firm  SLNG.O  up
~30% at $5.41 on two strategic transactions to strengthen its
distributed LNG and CNG capabilities in Mexico 
    ** Co says it has acquired privately held Diversenergy and
its subsidiaries to establish a local liquefied natural gas
operating company
    ** Co also formed a joint venture with CryoMex Investment
Group LLC and other former owners of Diversenergy to pursue
investments in LNG and compressed natural gas assets in Mexico
    ** Diversenergy's owners received cash and Stabilis' common
stock  urn:newsml:reuters.com:*:nACSNbW8Ra
    ** Financial terms of the transaction were not disclosed
    ** Despite Wednesday's gains, stock down 26.6% YTD

 (Reporting By Arundhati Sarkar in Bengaluru)
 ((Reuters Messaging: arundhati.sarkar@.thomsonreuters.com))