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January 7, 2014
06:31 EDTGMLPGolar LNG Partners recent shares weakness overdone, says Citigroup
Citigroup views the recent pullback in shares of Golar LNG Partners as overdone and sees an attractive buying opportunity at current levels. Citi expects the company's liquidity to significantly improve by the end of March and does not think the general partner will divest incremental units over the next few quarters. The firm lowered its price target for shares to $35 from $36.50 and keeps a Buy rating on Golar LNG Partners.
News For GMLP From The Last 14 Days
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December 15, 2014
16:28 EDTGMLPGolar LNG Partners management to recommend raising annual dividend by 11c-13c
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16:25 EDTGMLPGolar LNG Partners acquires Golar Eskimo for about $390M
Golar LNG Partners announced that it has entered into an agreement to acquire the ownership interests in the companies that will own and operate the Golar Eskimo, a floating storage and regasification unit, from Golar LNG for an aggregate purchase price of approximately $390M. The Partnership will finance the purchase price with cash on hand, the proceeds of a $220.0M loan from Golar and the assumption of outstanding bank debt in respect of the Golar Eskimo on the closing date of the acquisition. The Partnership believes it currently has a relatively low level of leverage and currently expects to refinance the loan from Golar before maturity with a combination of new debt and cash from operations. The Partnership estimates that the Golar Eskimo acquisition will generate annual contracted revenues, net of voyage expenses, commissioning, operating expenses and taxes, of approximately $45M-$47M with respect to the first five years of service under the Golar Eskimo Time Charter. The Partnership expects such annual contracted revenues to decrease to approximately $41M-$43M with respect to the second five-year period under the Golar Eskimo Time Charter. However, the Partnership may not realize these levels of estimated annual revenues from the acquisition of the Golar Eskimo.

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