EXMAR, Flex LNG and Geveran withdraw from announcement merger transaction

Markets, Stock Markets — By on September 23, 2015 at 4:19 PM

EXMAR logo untitledEXMAR refers to previous announcement of 1 July, 2015 that EXMAR NV, FLEX LNG Ltd. (the “Company”) and GEVERAN Trading Co. Ltd. had agreed on the main terms for a transaction whereby EXMAR’s LNG and Liquefied Natural Gas Infrastructure assets and GEVERAN’s two LNG vessels under construction would be contributed to the Company, which already owns two LNG assets under construction, in exchange for new shares in the Company issued to EXMAR and GEVERAN. The parties have failed to agree on the terms. The previously announced transaction will not be completed. EXMAR will continue focusing on LNG infrastructure and pursue its strategy of barge based FLNG and FSRU projects.

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