Following the announcement on 2nd September 2013 that it has settled the dispute with Samsung Heavy Industries and that two LNG Carriers have been ordered, FLEX LNG (Oslo Axess: FLNG) will work towards securing employment for the LNG Carriers and continue its preparations to manage the construction process.
The board of directors at FLEX LNG has decided to commence a process to explore strategic alternatives that are available to the company. Although other options are said to be available, the outcome of such a process may be for FLEX LNG to become part of a business combination, or for a full or partial sale of the company or its assets to take place. Alternatively, FLEX LNG could enter into a strategic partnership with a third party. The company expects to have reached a resolution to the strategic process by Q1 2014.
Arctic Securities ASA has been retained to assist the board of directors in evaluating strategic alternatives.
Adapted from press release by Ted Monroe
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/11102013/flex_lng_to_explore_alternative_strategies_including_sale_of_assets/