Höegh Evi Ltd. today announced that funds managed by Igneo Infrastructure Partners (“Igneo”) have entered into agreements to acquire a 50% ownership stake in Larus Holding Limited, the 100% owner of Höegh Evi, from funds managed by Morgan Stanley Infrastructure Partners (“MSIP”). Aequitas Limited (“Aequitas”) will retain its 50% shareholding and long-term commitment as owner in the company.
Höegh Evi is the issuer of senior unsecured bonds listed on Oslo stock exchange, with ISIN NOK0010873755. The company intends to repay the bonds at maturity and before the closing of the transaction. The transaction is expected to close in the first half of 2025, subject to regulatory approvals and customary closing conditions.
Höegh Evi is a pioneer and global leader in floating energy infrastructure, with one of the world’s largest fleets of FSRUs (floating storage and regasification units) for importing natural gas. Today, Höegh Evi is building the infrastructure needed to make the energy transition possible, with floating terminals for ammonia and hydrogen import, the world’s first floating ammonia-to-hydrogen cracker, and services for carbon transport and permanent storage. Höegh Evi is a global company with a highly skilled global team of 900 employees at sea and onshore.
Igneo is an autonomous investment team in the First Sentier Investors Group. It invests in high-quality, mature, mid-market infrastructure companies in utilities, energy infrastructure, waste management and transportation/ logistics sectors. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on responsible investment and proactive asset management. Igneo manages US $20.0bn worth of assets (as of 30 September 2024) on behalf of more than 200 investors around the world.
Morgan Stanley Infrastructure Partners (MSIP) is a leading global private infrastructure investment platform with over $17 billion in assets under management since inception. Founded in 2006, MSIP has invested in a diverse portfolio of over 40 investments across transport, digital infrastructure, energy transition and utilities.
Aequitas Limited (‘Aequitas’) is the principal investment holding company of the Høegh family, indirectly owned and controlled by Leif O. Høegh and family trusts under which Morten W. Høegh and his immediate family are the primary beneficiaries. Aequitas owns various industrial businesses such as Höegh Evi, Höegh Autoliners, Höegh Eiendom and HCP Africa, alongside a diversified multi-asset class portfolio of financial investments managed by Höegh Capital Partners.