NEW YORK--(BUSINESS WIRE)--Golar LNG Partners LP (Nasdaq: GMLP) (“GMLP”) announced the completion of its sale to New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) on April 15, 2021.
In connection with the sale to NFE, NFE has acquired all of the outstanding common units of GMLP for $3.55 per common unit in cash and GMLP’s general partner for equivalent consideration based on the general partner’s economic interest in GMLP.
On April 23, 2021, the GMLP board of directors approved delisting the GMLP’s 8.75% Series A Cumulative Redeemable Preferred Units (the “Preferred Units”). GMLP also plans to give notice to NASDAQ of its intent to voluntarily delist the Preferred Units and to withdraw the registration of its Preferred Units with the Securities and Exchange Commission (“SEC”).
GMLP intends to file a Form 25 Notification of Removal from Listing with the SEC on or about May 3, 2021, and the delisting will be effective on or about May 13, 2021, ten days after the filing of the Form 25. In connection with the foregoing, GMLP also intends to file a Form 15 with the SEC to suspend GMLP’s reporting obligations under the Securities Exchange Act of 1934, as amended, in connection with the Preferred Units. GMLP has not arranged for listing and/or registration on another national securities exchange or for quotation of the Preferred Units in a quotation medium. However, the rights of the holders of the Preferred Units will not be effected under GMLP’s limited partnership agreement.
GMLP is delisting the Preferred Units because NASDAQ has informed GMLP that the Preferred Units no longer meet the listing requirements of NASDAQ Global Market Rule 5450.
