FSRU Excelsior, image: Excelerate
German utility company RWE announced on Friday they are selling back their 50 percent stake in Houston-based Excelerate Energy. The deal was signed with economic effect from 30 June 2013.
Excelerate’s original financier and co-owner George B. Kaiser bought the shares back for an undisclosed price. RWE’s initial 50 percent stake was bought from Mr. Kaiser in 2008 for a consideration of approximately $500 million.
“Excelerate Energy has developed to become a very successful global provider of infrastructure based on special LNG ships with on-board regasification. This business is further developing into a pure LNG infrastructure business and is therefore an ever less integral part of the core activities of RWE”, explained Stefan Judisch, CEO of RWE Supply & Trading regarding the company’s decision.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,965 members that receive our newsletter.
Have a news tip? Let us know.
ROME (Reuters) – An Italian judge on Friday cleared three migrant sea rescue charities that had been accused of abetting irregular immigration in complicity with human traffickers, throwing out a case opened...
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 105,965 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
