Printer Friendly

Dynagas LNG Partners wraps up acquisition of Yenisei River operator.

M2 EQUITYBITES-September 29, 2014-Dynagas LNG Partners wraps up acquisition of Yenisei River operator

(C)2014 M2 COMMUNICATIONS http://www.m2.com

29 September 2014 - Greece-based liquefied natural gas (LNG) carriers operator Dynagas LNG Partners LP (NASDAQ:DLNG) has announced the completion of its deal to acquire the company operating ice class LNG carrier the Yenisei River from Dynagas Holding Ltd.

The deal also includes a time charter contract with Gazprom Global LNG Limited under which the Yenisei River currently operates. The total consideration for the transaction is USD257.5m (EUR203.2m).

According to the press release by the buyer, the purchase was funded with a combination of available cash and the proceeds from a recently completed USD250m public offering of senior unsecured notes.

Dynagas LNG Partners estimates that the acquisition would result in an additional USD25m annually in net cash from operations provided that the carrier operates at full capacity.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2014 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Sep 29, 2014
Words:161
Previous Article:PharMerica acquires Millennium Pharmacy Systems.
Next Article:Fundrise secures USD38m in Series A round.
Topics:

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters