Morgan Stanley Infrastructure Partners (MSIP) is selling its 50% stake in a floating storage and regasification import terminals company to Igneo Infrastructure Partners.
Igneo has agreed to buy the stake in Larus Holding, owner of floating energy infrastructure operator Höegh Evi, from funds managed by MSIP for an unspecified amount.
MSIP gained its 50% in 2021 when Höegh Evi – then known as Höegh LNG Holdings – was taken private by the Larus Holding joint venture in a deal that valued the floating terminals company at around NOK1.82bn (€155m) at the time.
Aequitas will retain its 50% interest in Larus Holding.
Morten W Høegh, chairman of Höegh Evi, said: “Höegh Evi and Aequitas deeply value the close collaboration we have had with MSIP through an extraordinary period where we strengthened our role as a market leader in liquified natural gas (LNG) infrastructure and key provider of energy security in Europe.
“As we expand our focus to include clean energy solutions, Igneo offers deep expertise and resources to support innovation and further growth, aligning with Höegh Evi’s position as global leader in floating infrastructure for energy security and the transition.”
Niall Mills, managing partner and global head of Igneo Infrastructure Partners, said: “As long-term, responsible investors, we are fully aligned with Höegh Evi’s strategy to continue as a trusted provider of [floating storage regasification units] and LNG infrastructure, while expanding its focus to include infrastructure for ammonia, hydrogen and carbon molecules.”
Alberto Donzelli, MD and co-head of Europe at Morgan Stanley Infrastructure Partners, said: “MSIP identified Höegh Evi early as a trusted owner and operator of floating storage and regasification import terminals with strong growth potential.
“During our ownership, the company significantly strengthened its commercial and strategic standing. We are grateful for having had the opportunity to support Höegh Evi during this period.”
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