Brief: Hoegh, Golar to take stakes in Stolt-Nielsen's Avenir LNG

Stolt-Nielsen

01/10/2018 14:08

Oct 1 (Reuters) - Hoegh Lng Holdings Ltd  HLNGH.OL :
    * HÖEGH LNG HOLDINGS LTD. ANNOUNCED TODAY AN INVESTMENT OF
USD
24.75 MILLION IN AVENIR LNG LTD
    * INVESTMENT IS PART OF A COMBINED COMMITMENT OF UP TO USD
182
MILLION FROM STOLT-NIELSEN LTD., GOLAR LNG LTD. AND HÖEGH LNG
FOR PURSUIT OF OPPORTUNITIES IN SMALL-SCALE LNG
    * AVENIR LNG INTENDS TO UTILIZE BEST-IN-CLASS CAPABILITIES
OF ITS
ANCHOR INVESTORS TO BUILD A GLOBAL PRESENCE AS LEADING PROVIDER
OF SMALL-SCALE LNG
    * AVENIR LNG WAS ORIGINALLY FORMED BY STOLT-NIELSEN IN 2017
TO
PROVIDE LNG TO MARKETS LACKING ACCESS TO LNG PIPELINES
    * STOLT-NIELSEN WILL CONSOLIDATE ALL ITS LNG ACTIVITIES INTO
AVENIR
    * HÖEGH LNG AND GOLAR LNG WILL EACH HOLD AN INITIAL SHARE OF
25%
OF AVENIR LNG, WHILE STOLT-NIELSEN WILL REMAIN LARGEST
SHAREHOLDER WITH OWNERSHIP OF 50%
    * SUBSEQUENT TO INITIAL CAPITAL RAISE, AVENIR LNG
CONTEMPLATES A
PUBLIC LISTING AT OSLO OVER--COUNTER MARKET DURING 2018

Source text for Eikon:  urn:newsml:reuters.com:*:nObi4ySfla
Further company coverage:  HLNGH.OL 

 (Reporting By Terje Solsvik)
 ((terje.solsvik@thomsonreuters.com;))