Future strategy following GMLP IPO
(Thomson Reuters ONE) -
Hamilton, Bermuda, March 31, 2011 - As previously announced, on March 30, 2011,
Golar LNG Partners LP (the "GMLP"), a wholly owned subsidiary of Golar LNG
Limited ("Golar" or the "Company"), filed a registration statement with the U.S.
Securities and Exchange Commission (the "SEC") for an initial public offering
(the "Offering") of the GMLP's common units. The Offering currently is scheduled
to include the sale by Golar of 12,000,000 common units, representing a 30.1%
limited partner interest in GMLP, and to increase to 13,800,000 common units if
the underwriters exercise in full their over-allotment option. The initial
public offering price of the common units is expected to be between $20.00 and
$22.00 per common unit, which would raise gross cash proceeds at the mid point
of the price range of $252 million. The Offering is expected to price the week
of April 4, 2011.
Golar intends to use the net proceeds from its sale of the common units to
expand its fleet.
Immediately following the closing of the offering, Golar will own the GMLP's
general partner and an approximate 67.9% limited partner interest in the GMLP.
Golar will also own 81% of the GMLP's incentive distribution rights, which will
entitle it to increasing percentages of the cash the GMLP distributes in excess
of certain target distribution amounts. Golar LNG Energy Limited will own the
remaining 19% of the incentive distribution rights.
Following the closing of the Offering, Golar anticipates entering into
discussions with Golar LNG Energy Limited in order to seek a mutually beneficial
integration between the two companies.
This offering of common units will be made only by means of a prospectus. A
written prospectus meeting the requirements of Section 10 of the Securities Act
of 1933, when available, may be obtained from the offices of Citi, Attention:
Prospectus Department, Brooklyn Army Terminal, 140 58(th) Street, 8(th) Floor,
Brooklyn, NY 11220, Email: BATProspectusdept(at)citi.com, Telephone: 800-831-9146;
BofA Merrill Lynch, Attention: Prospectus Department, 4 World Financial Center,
New York, NY 10080, Email: dg.prospectus_requests(at)baml.com; and Morgan Stanley,
Attention: Prospectus Dept., 180 Varick Street, 2(nd) Floor, New York, NY
10014, Email: prospectus(at)morganstanley.com, Telephone: 866-718-1649.
A registration statement relating to these securities has been filed with the
SEC but has not yet become effective. The securities may not be sold, nor may
offers to buy be accepted, prior to the time the registration statement becomes
effective. This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities issuable pursuant to the
registration statement, nor will there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state or jurisdiction.
The statements in this press release that are not historical facts may be
forward-looking statements. Such forward looking statements, based upon the
current beliefs and expectations of Golar's management, are subject to risks and
uncertainties, which could cause actual results to differ from the forward
looking statements. The information set forth herein should be read in light of
such risks. Golar does not assume any obligation to update the information
contained in this press release.
Golar LNG Limited
March 31, 2011
Hamilton, Bermuda.
Questions should be directed to:
Golar LNG Management Ltd - +44 207 063 7900
Brian Tienzo: Group Financial Controller
Graham Robjohns: Chief Executive Officer
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Golar LNG via Thomson Reuters ONE
[HUG#1502251]
Unternehmensinformation / Kurzprofil:
Datum: 31.03.2011 - 15:33 Uhr
Sprache: Deutsch
News-ID 53030
Anzahl Zeichen: 4758
contact information:
Town:
London
Kategorie:
Business News
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"Future strategy following GMLP IPO"
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