Cheniere Energy Inc. and Cheniere Energy Partners LP Holdings, LLC have reached a definitive agreement, under which Cheniere will acquire all of the publicly-held shares of Cheniere Partners Holdings not already owned by Cheniere in a stock for share transaction. Cheniere Partners Holdings’ shareholders will receive a fixed exchange ratio of 0.4750 Cheniere shares for each outstanding publicly-held share of Cheniere Partners Holdings. The transaction is valued at US$30.93 per common share of Cheniere Partners Holdings based on the closing price of Cheniere’s shares as of 18 June. The transaction is expected to qualify as a tax-free reorganization for Cheniere Partners Holdings’ shareholders.
The conflicts committee of the board of directors of Cheniere Partners Holdings negotiated the transaction on behalf of Cheniere Partners Holdings and its public shareholders. The transaction was unanimously approved by the boards of directors of both Cheniere Partners Holdings and Cheniere.
The transaction is expected to close by the end of 3Q18, subject to customary closing conditions. Upon consummation of the transaction, Cheniere Partners Holdings will merge with a wholly owned subsidiary of Cheniere.
Read the article online at: https://www.hydrocarbonengineering.com/special-reports/20062018/cheniere-announces-merger-agreement/