Golar Completes Sale of Golar Grand, Bermuda

Golar LNG Limited announced that it has completed its sale of interests in the companies that own and operate the LNG carrier Golar Grand to Golar LNG Partners L.P. for a price of $265 million.

As consideration, the Partnership will assume a $90 million finance lease liability (net of restricted cash) in respect of the Golar Grand and pay Golar the balance of $175 million in cash.

This is the third vessel acquisition facilitated by Golar’s corporate structure since Golar LNG Partners’ IPO, once again proving the efficiency of the structure when it comes to the monetization of long term contracts that simultaneously grow Golar LNG Partners.

[mappress]
LNG World News Staff, November 09, 2012