Golar to Sell Stake in Golar LNG Partners

Golar LNG announced that it is offering 3,400,000 common units, representing limited partner interests in Golar LNG Partners, as a selling unitholder in the public offering announced on December 5 by Golar Partners.

Golar Partners also plans to offer 5,100,000 of its common units in the Offering and Golar GP LLC, the Partnerships general partner intends to maintain its 2% general partner interest by subscribing to the newly issued units.

Golar intends to use the proceeds it receives from its offering of the common units of Golar Partners to create liquidity which potentially can be used to develop its floating LNG production business.

Following completion of the Offering, Golar will own the following interests in Golar Partners: 8,838,096 common units, 15,949,831 subordinated units, the 2% general partner interest and all of the incentive distribution rights.

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LNG World News Staff, December 06, 2013