Golar LNG Partners shareholders have given the New Fortress Energy buyout the go ahead.
The Tor Olav Troim-backed company said the gas carrier owner's shareholders "voted on and approved" the $5bn shares and cash deal — expected to close in the first half — at a special meeting on Wednesday.
"Pursuant to the merger agreement [New Fortress Energy] has agreed to acquire all of the outstanding common units and general partner units of [Golar LNG Partners] for $3.55 per unit in cash," Golar LNG Partners said.
The buyout, announced on 13 January, saw New York-listed New Fortress build a fleet of seven floating storage and regasification units and six LNG carriers plus a 50% interest in Hygo's Sergipe power plant in Brazil and floating LNG production unit Hilli Episeyo for 31.4 million shares and $580m in cash.
The deal included Hygo Energy Transition, the Golar spin-off whose initial public offering was scuttled in September after its chief executive was implicated in a bribery scheme in his native Brazil.
It valued Hygo at $2.2bn, greater than what the company was expected to net in its IPO.
“With a strong presence in Brazil and a world-class LNG shipping business, Hygo and GMLP [Golar LNG Partners] are excellent additions to our efforts to accelerate the world’s energy transition," New Fortress chief executive Wes Edens said when the deal was announced.
It had already been approved by Golar LNG shareholders and shareholders of Stonepeak Infrastructure Partners, which launched Hygo in a 50:50 joint venture with Golar LNG.
In late trading on Wednesday, Golar LNG Partners shares were up nearly two cents to $3.51.
Golar LNG shares were up $0.19 to $11.27 and New Fortress Energy shares up $0.54 to $49.16.
