Cheniere Energy terminates negotiations to acquire Cheniere Energy Partners LP Holdings

Cheniere Energy has terminated the ongoing negotiations with the conflicts committee of the board of directors of Cheniere Energy Partners LP Holdings regarding its earlier non-binding proposal to acquire all remaining publicly held shares of Cheniere Energy Partners Holdings.

The proposed deal was subject to the negotiation and execution of a definitive agreement.

This agreement required approval by the board of directors of Cheniere, the board of directors of Cheniere Partners Holdings and a conflicts committee established by the board of directors of Cheniere Partners Holdings.

The initial offer made by Cheniere was 0.5049 shares for each outstanding publicly held share of Cheniere Partners Holdings. It represented a premium of approximately 3% over the closing price of Cheniere Partners Holdings' shares.

The negotiation between the two parities continued for more than six weeks where Cheniere increased the offer to an exchange ratio of 0.54, which represented a premium of nearly 10% over the closing price of Cheniere Partners Holdings' shares, dated 29 September.

With no positive outcome, Cheniere terminated the negotiations as it claimed that no acceptable definitive agreement can be reached with the conflicts committee at this time.

Cheniere currently holds 80.1% of the issued and outstanding shares of Cheniere Partners Holdings.

Cheniere can buy the remaining ownership of Cheniere Partners Holdings in the open market or through privately held negotiated agreements from time to time, subject to market and general economic factors.

Cheniere Energy is a Houston-based company that focuses on LNG-related businesses and owns the Sabine Pass LNG terminal in Louisiana. Its subsidiary Cheniere Energy Partners operates liquefaction projects near Corpus Christi, Texas, as well as the Sabine Pass LNG terminal.