Cheniere Energy and Cheniere Energy Partners have reached a definitive agreement under which Cheniere will acquire all of the publicly-held shares of Cheniere Partners Holdings in a stock for share transaction.
Under the agreement, Cheniere Partners Holdings’ shareholders will receive a fixed exchange ratio of 0.4750 Cheniere shares for each outstanding publicly-held share.
The transaction is valued at $30.93 per common share of Cheniere Partners Holdings based on the closing price of Cheniere’s shares as of June 18, 2018.
The conflicts committee of the board of directors of Cheniere Partners Holdings negotiated the transaction on behalf of the company and its public shareholders.
The transaction, unanimously approved by the boards of directors of both Cheniere Partners Holdings and Cheniere, is expected to close by the end of third quarter 2018, after which Cheniere Partners Holdings will merge with a unit of Cheniere.
J.P. Morgan Securities LLC and Sullivan & Cromwell LLP acted as financial and legal advisors to Cheniere. Jefferies LLC and Richards, Layton & Finger, P.A. acted as financial and legal advisors to the conflicts committee of Cheniere Partners Holdings.