Golar LNG Partners to acquire Golar Freeze

Golar LNG Partners is planning to buy the companies that own the floating storage and regasification unit (FSRU) Golar Freeze from parent company Golar LNG for $330m.

The parent Golar LNG will loan Golar LNG Partners $222m pay for the acquisition while Golar LNG Partners will seek an $108m loan to fund the acquisition.

The company said the acquisition is expected to close before the end of October 2011.

Golar LNG said that the transaction structure and the term of the loan agreement will reduce its need for external financing for its newbuild deliveries in 2013 and 2014.