Summary
Cheniere Energy, Inc. (LNG) announced on May 14, 2010, the successful closing of the sale of its 30% limited partner interest in Freeport LNG Development, L.P. This strategic divestiture generated net proceeds of approximately $104 million. The buyer is ZHA FLNG Purchaser, LLC, an entity representing Zachry American Infrastructure, LLC and Hastings Funds Management (USA), Inc. on behalf of institutional investors. This transaction represents a significant step for Cheniere in monetizing certain assets, likely to strengthen its balance sheet and provide capital for future strategic initiatives.
Key Highlights
- 1Cheniere Energy (LNG) completed the sale of its 30% interest in Freeport LNG Development, L.P.
- 2The transaction closed on May 14, 2010.
- 3Net proceeds from the sale amounted to approximately $104 million.
- 4The purchaser is ZHA FLNG Purchaser, LLC, a joint venture involving Zachry American Infrastructure and Hastings Funds Management.
- 5The proceeds are expected to provide financial flexibility for Cheniere.