Höegh LNG Holdings Ltd. made a non-binding offer to acquire remaining 54.2% stake in Höegh LNG Partners LP (NYSE:HMLP) for approximately $77 million on December 3, 2021. Höegh LNG Holdings Ltd. entered into a definitive merger agreement to acquire remaining 54.2% stake in Höegh LNG Partners LP (NYSE:HMLP) for approximately $170 million on May 25, 2022. Pursuant to the terms, Höegh LNG will pay $4.25 for each issued and outstanding common unit. As of May 25, 2022, Höegh LNG shall pay $9.25 per common unit of Höegh LNG Partners LP. Post-completion, HMLP will become a wholly owned subsidiary of Höegh LNG Holdings. The transaction is subject to signing of definitive agreement, completion of due diligence, Höegh LNG Holdings arranging fully committed financing, approval from conflicts committee of HMLP, approval from boards of HMLP and Höegh LNG Holdings, approval by holders of a majority of the outstanding Common Units of HMLP, certain regulatory filings, HSR Act approvals and customary closing conditions. The transaction is approved by the board of Höegh LNG Holdings. The transaction is expected to close in the second half of 2022. As of August 12, 2022, the special meeting of its unitholders currently planned to take place on September 20, 2022. Höegh LNG Partners LP announces that at a special meeting held on September 20, 2022, common unitholders of Höegh LNG Partners voted on and approved the Agreement and Plan of Merger. As of September 13, 2022, the transaction is expected to close on or about September 23, 2022.

Credit Suisse International and Morgan Stanley & Co LLC acted as financial advisor while Sean Wheeler, Enoch Varner, David Wheat, William Dong, Rob Fowler, Mary Kogut, Shan Khan, Matthew Turner, Ann Becchina, Paul Tanaka, James Dolphin III, Michael Thorpe, Philip Gnatzy, Sandra Goldstein, Richard Boynton, Stefan Atkinson, Luci Hague and Stuart Boyd of Kirkland & Ellis acted as legal advisor for Höegh LNG Holdings. Evercore is acting as financial advisor and fairness opinion provider to the Conflicts Committee and Kenneth Jackman and Srinivas M. Raju of Richards, Layton & Finger, P.A. is acting as its legal counsel. Catherine Gallagher and Michael Swidler of Baker Botts L.L.P. is acting as the Partnership's legal counsel. Stuart Rogers of Alston & Bird LLP acted as legal advisor to Credit Suisse and Morgan Stanley, financial advisors to Hoegh LNG Holdings. D.F. King & Co., Inc. acted as information agent with a service fee of $12,500 to Höegh LNG Partners LP.

Höegh LNG Holdings Ltd. completed the acquisition of the remaining 54.2% stake in Höegh LNG Partners LP (NYSE:HMLP) on September 23, 2022. In connection with the transaction, the Partnership requested that the NYSE suspend trading of the Common Units prior to the opening of trading on September 26, 2022.