Golar LNG Buys Outstanding Minority Interests In FLNG Hilli For $90.2 Mln, Stock Down In Pre-Market

(RTTNews) - Golar LNG Ltd. (GLNG), Tuesday announced that the company has acquired all outstanding minority ownership interests of FLNG Hilli for $90.2 million from Seatrium, a shipbuilding repair company, and Black & Veatch, an engineering and construction company.

Of the total consideration, $59.9 million is in equity and the rest is a pro-rata share in the existing FLNG Hilli debt facility.

Following the latest move, Golar will have full ownership of FLNG Hilli, which will give immediate cash flow accretion and is expected to add approximately $0.5 billion of Adjusted EBITDA backlog.

Additionally, Seatrium and Golar have agreed to resolve other remaining open items, resulting in a $7 million payment by Golar to Seatrium in relation to a Hilli Train 3 utilization bonus and settlement of historical work related to former Golar-owned LNGC, the Golar Gandria.

During the pre-market hours, Golar's stock is trading at $40.51, down 3.18 percent on the Nasdaq.