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TortoiseEcofin announced on April 15, 2021, that Golar LNG Partners LP (NASDAQ:GMLP) will be removed from the Tortoise MLP Index due to its merger with New Fortress Energy Inc (NASDAQ:NFE). This removal will take effect at market open on April 19, 2021. GMLP's removal is executed without a special rebalancing, as its current weight falls below the threshold that would necessitate such action. The Tortoise MLP Index is focused on energy master limited partnerships (MLPs) and serves as a capitalization-weighted index.
Golar LNG Partners LP (Nasdaq: GMLP) has completed its sale to New Fortress Energy Inc. (NFE) for $3.55 per common unit, amounting to a $1.9 billion enterprise value. NFE acquired all outstanding GMLP common units and its general partner, with the transaction valued at $251 million in equity. CEO Karl Fredrik Staubo expressed confidence that this sale is beneficial for all stakeholders, marking the conclusion of GMLP's strategic review.
Golar LNG Partners LP has filed its Form 20-F for the fiscal year ending December 31, 2020, with the U.S. Securities and Exchange Commission. This document is crucial for investors as it provides a comprehensive overview of the company's financial status and operational performance. Investors can access the Form 20-F through a link provided or on the company's website, and hard copies are available upon request. The announcement was made on March 16, 2021, from Hamilton, Bermuda, highlighting compliance with Norwegian Securities Trading Act disclosure requirements.
Golar LNG Partners LP reported a net income of $20.7 million for Q4 2020, a rise from $17.4 million in Q3 2020, but down from $30.4 million in Q4 2019. The operating income was $32.2 million, compared to $32.1 million in Q3 2020 and $36.3 million a year earlier. The Partnership's distributable cash flow reached $31.6 million, with a distribution coverage ratio of 22.09. Golar Partners has entered into a merger agreement with New Fortress Energy, valued at $3.55 per common unit, with the merger approved by unitholders on February 24, 2021.
Golar LNG Partners LP (GMLP) has announced the approval of its Merger Agreement with New Fortress Energy Inc. (NFE), Lobos Acquisition LLC, and NFE International Holdings Limited. Under this agreement, NFE will acquire all outstanding common and general partner units of GMLP at a cash price of $3.55 per unit. The merger is anticipated to close in the first half of 2021, contingent on necessary approvals and consents. While the transaction presents a liquidity opportunity for GMLP investors, various risks associated with regulatory approvals and execution timelines could impact the finalization of the merger.
Golar LNG Partners LP will release its 4th Quarter 2020 results before NASDAQ opens on February 25, 2021. A webcast presentation is scheduled for 4:30 P.M. (London Time) on the same day. Participants can access this via the Investor Relations section of their website. Analysts wishing to ask questions during the Q&A session should join via the conference call dial-in, which starts 10-15 minutes earlier. Replay options for the call will also be available for one week following the event.
Golar LNG Partners LP (NASDAQ: GMLP) has filed a proxy statement with the SEC on February 2, 2021, ahead of its special meeting on February 24, 2021, where unitholders will vote on a proposed merger with an indirect subsidiary of New Fortress Energy Inc. (NFE). Common unitholders recorded by January 25, 2021, are eligible to vote. The press release includes forward-looking statements regarding the merger, emphasizing potential risks such as regulatory approvals, competing offers, and the timely completion of the transaction.
New Fortress Energy has announced its definitive agreements to acquire Hygo Energy Transition Ltd., a joint venture between Golar LNG and Stonepeak Infrastructure Fund, along with Golar LNG Partners. This strategic acquisition, valued at $3.1 billion, aims to enhance NFE's presence in Brazil's energy market, adding several gas-to-power projects and a fleet of LNG vessels. The deal includes the issuance of 31.4 million shares and $580 million in cash for Hygo and $3.55 per common unit in cash for GMLP, with expected closure in the first half of 2021.
Golar LNG Partners LP held its 2020 Annual Meeting of Limited Partners on September 24, 2020, in Hamilton, Bermuda. The meeting resulted in two key resolutions: the election of Neil Glass as a Class I Director, whose term extends until the 2022 Annual Meeting, and the election of Carl Steen as a Class II Director, whose term lasts until the 2023 Annual Meeting. This information complies with the disclosure requirements of the Norwegian Securities Trading Act.
Golar LNG Partners has appointed Neil Glass as a Class I Director, filling a vacancy left by Alf Thorkildsen's resignation in August 2020. Glass will complete the remaining term ending at the 2022 Annual Meeting of Limited Partners. The appointment aims to strengthen the board's leadership. The announcement was made on September 10, 2020, highlighting Golar Partners' ongoing efforts to enhance governance.
