Cheniere Energy Inc. has offered to buy the remaining shares of Cheniere Energy Partners LP Holdings LLC it does not already own in a stock exchange. Cheniere is offering 0.5049 Cheniere shares for each outstanding publicly-held shares of Cheniere Partners Holdings as part of a transaction that would be structured as a merger of Cheniere Partners Holdings with a subsidiary of Cheniere. The offer represents a value of $21.90/share of Cheniere Partners Holdings, or a premium of 3.0% based on Thursday’s closing price. Cheniere Partners Holdings owns a 55.9% limited partner interest in Cheniere Energy Partners LP. Cheniere Partners Holdings’ only business consists of owning Cheniere Partners units and, accordingly, its results of operations and financial condition are dependent upon the performance of Cheniere Partners. “We believe the proposed transaction is attractive to investors in Cheniere Partners Holdings who, as new LNG [Cheniere Energy Inc.] shareholders, would have the opportunity to participate in the future success of the entire Cheniere complex,” said Cheniere Energy Inc. CEO Jack A. Fusco. “In addition, shareholders of Cheniere Partners Holdings would receive an attractive premium over its recent trading levels and a significant increase in the trading liquidity of their investment.”
Sempra Energy Mexican subsidiary Infraestructura EnergÃ©tica Nova SAB de CV (IEnova), has been awarded two solar energy project bids with a total value of $150 million and output of 141 MW. They are both photovoltaic (PV) plants and are the first non-oil/gas infrastructure projects that IEnova will develop and operate south of the border. The projects include a 100 MW single-axis PV project in Aguascalientes that will be developed in partnership with Trina Solar and the 41 MW Rumorosa Solar complex in Baja California. Output from the two projects will be contracted to Mexico’s national electricity company, Comision Federal de Electricidad under separate 15- and 20-year renewable and clean energy agreements.
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