InfraStrata agrees contract for the purchase of Harland and Wolff’s assets
Published by Will Owen,
Editor
LNG Industry,
InfraStrata has agreed a conditional contract for the purchase of assets of the former Harland and Wolff Heavy Industries Ltd. and Harland and Wolff Group Plc.
In conjunction, it has launched a fundraise of up to £6 million to fund the £5.25 million consideration.
Highlights:
- This agreement marks a significant milestone toward the completion of the acquisition.
- The acquisition will bring in-house a large part of the engineering and fabrication requirements for the company’s Islandmagee Gas Storage Project and proposed FSRU project.
- 100% of the 79 employees will be retained immediately following completion of the fundraise and the subsequent General Meeting to approve the raise.
- The board intends to make an open offer to shareholders to allow private investors to subscribe at the same price as institutions.
- Directors have indicated that they intend to participate.
- The book will close on 11 November.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/11112019/infrastrata-agrees-contract-for-the-purchase-of-harland-and-wolffs-assets/
You might also like
EIA: US natural gas trade will continue to grow with the start-up of new LNG export projects
The U.S. Energy Information Administration’s recently released Short-Term Energy Outlook forecasts that US LNG exports will continue to lead growth in US natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025.