Tor Olav Trøim’s Golar LNG has sold around 8m shares in spin-off Cool Company (CoolCo) raising net proceeds of approximately $100m. Following the sale Golar will own around 4.5m shares, representing 8.3% of CoolCo.
Commenting on the sale, Golar CEO Karl Fredrik Staubo said: “The sale of CoolCo shares is driven by progress on FLNG growth opportunities, where we expect to deploy the sale proceeds. We are delighted to see CoolCo realising the potential of the carrier business and delivering on its commitment to industry consolidation and dividend distributions to shareholders.”
Yesterday, Splash reported on CoolCo’s plans to buy four vessels from Quantum Crude Tankers, an affiliate of Idan Ofer’s Eastern Pacific Shipping.