Golar Power transaction closes
06 July 2016 - 10:34PM
We refer to the press release
dated June 20, 2016 which announced the launch of Golar Power, a
50/50 partnership with Stonepeak Ltd.
The transaction completed on July
6. Golar Power has received the proceeds of a $100 million
preferred note from Stonepeak and Golar LNG Limited has received
$116 million in respect of its sale of 50% of the shares in Golar
Power. After settlement of transaction related fees and Golar's
contribution to the working capital of Golar Power, approximately
$104 million will be added to Golar LNG Limited's liquidity.
Golar Power expects to execute
contracts for the conversion of its first LNG carrier to a FSRU
shortly.
FORWARD LOOKING
STATEMENTS
This press release contains
certain forward-looking statements concerning future events and
Golar's operations, performance and financial condition.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate or imply future
results, performance or achievements, and may contain the words
"believe", "anticipate", "expect", "estimate", "project", "will
be", "will continue", "will likely result", "plan", "intend" or
words or phrases of similar meanings. These statements involve
known and unknown risks and are based upon a number of assumptions
and estimates that are inherently subject to significant
uncertainties and contingencies, many of which are beyond Golar's
control. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Important
factors that could cause actual results to differ materially
include, but are not limited to, those factors listed from time to
time in the reports and other documents Golar files with the United
States Securities and Exchange Commission.
New factors emerge from time to
time, and it is not possible for Golar to predict all of these
factors. Further, Golar cannot assess the impact of each such
factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially
different from those contained in any forward-looking statement.
Golar does not intend to release publicly any updates or revisions
to any forward-looking statements contained herein to reflect any
change in Golar's expectations with respect thereto or any change
in events, conditions or circumstances on which any such statement
is based.
Hamilton, Bermuda
July 6, 2016
Enquiries:
Golar Management Limited: + 44 207 063 7900
Brian Tienzo
Stuart Buchanan
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Golar LNG via Globenewswire
HUG#2026414
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