Golar LNG Ltd. (GLNG) has announced the acquisition of all remaining minority stakes in FLNG Hilli for a total of $90.2 million. This purchase was made from Seatrium, a company specializing in shipbuilding repairs, and Black & Veatch, known for engineering and construction services.
The transaction was structured with $59.9 million being paid in equity, while the remaining amount reflects a proportional share of the existing debt facility associated with FLNG Hilli.
With this acquisition, Golar now fully owns FLNG Hilli, a move anticipated to immediately enhance cash flow and contribute around $0.5 billion in additional Adjusted EBITDA backlog.
In related developments, Golar and Seatrium have reached an agreement to settle remaining outstanding issues. This includes a $7 million payment by Golar to Seatrium, connected to a utilization bonus for Hilli Train 3 and settling previous obligations associated with the LNGC formerly owned by Golar, the Golar Gandria.
In pre-market trading, shares of Golar were observed at $40.51 on the Nasdaq, showing a decrease of 3.18 percent.
