Höegh LNG Holdings Ltd. initiates buyout offer for Höegh LNG Partners LP

HAMILTON, Bermuda, 6 December, 2021 – Höegh LNG Holdings Ltd. (“Höegh LNG”) announced today that it has submitted a non-binding proposal to the Board of Directors of Höegh LNG Partners LP (“HMLP” or the “Partnership”) pursuant to which Höegh LNG would acquire through a wholly owned subsidiary all publicly held common units of the Partnership in exchange for USD 4.25 in cash per common unit. If approved, the transaction would be effected through a merger of the Partnership with a wholly owned subsidiary of Höegh LNG. 

The proposed transaction is subject to the negotiation and approval of mutually satisfactory definitive documentation by the parties thereto.  If a definitive agreement is reached, the transaction will also require approval by a majority of the holders of outstanding common units in the Partnership. The transaction would be subject to customary closing conditions. There can be no assurance that definitive documentation will be executed or that any transaction will materialize. 

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Contact: Thor Jørgen Guttormsen, President and CEO, Telephone +47 400 39 888

About Höegh LNG: Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's Vision is "Enabling the transition to Clean Energy". The company is owned by Larus Holding Limited, a 50/50 joint venture between Leif Höegh & Co. Ltd.  and Funds managed by Morgan Stanley Infrastructure Partners, and owns approximately 46% of Höegh LNG Partners LP (NYSE:"HMLP"). Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, China, Indonesia, Lithuania, Egypt, Colombia and the Philippines. The group employs approximately 190 office staff and 670 seafarers. Please see: www.hoeghlng.com