HOUSTON, Dec. 9, 2016 /PRNewswire/ -- Cheniere Energy,
Inc. ("Cheniere") (NYSE MKT: LNG) announced today that it has
terminated negotiations with the conflicts committee of the board
of directors of Cheniere Energy Partners LP Holdings, LLC
("Cheniere Partners Holdings") (NYSE MKT: CQH) regarding Cheniere's
previously announced non-binding proposal to acquire all of the
publicly held shares of Cheniere Partners Holdings not already
owned by Cheniere in a stock-for-stock merger transaction.
The proposed transaction was subject to the negotiation and
execution of a definitive agreement and approval of such definitive
agreement 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. As previously announced, the consideration initially
offered by Cheniere was 0.5049 Cheniere shares for each outstanding
publicly-held share of Cheniere Partners Holdings, which
represented a premium of approximately 3.0% over the closing price
of Cheniere Partners Holdings' shares based on the closing prices
of Cheniere Partners Holdings' shares and of Cheniere's shares as
of September 29, 2016, or a premium
of approximately 7.0% over the 30-trading day average CQH / LNG
exchange ratio as of September 29,
2016. After more than 6 weeks of negotiations, and despite
raising the offer to an exchange ratio of 0.54 (representing a
premium of approximately 10% over the closing price of Cheniere
Partners Holdings' shares based on the closing prices of Cheniere
Partners Holdings' shares and of Cheniere's shares as of
September 29, 2016, or a premium of
approximately 14% over the 30-trading day average CQH / LNG
exchange ratio as of September 29,
2016), Cheniere has determined that no acceptable definitive
agreement can be reached with the conflicts committee at this
time.
Cheniere currently owns 80.1% of the issued and outstanding
shares of Cheniere Partners Holdings. Cheniere may, subject to
market and general economic conditions and other factors, purchase
additional shares of Cheniere Partners Holdings in the open market
or in privately negotiated transactions from time to time.
About Cheniere
Cheniere Energy, Inc., a Houston-based energy company primarily engaged
in LNG-related businesses, owns and operates the Sabine Pass LNG
terminal in Louisiana. Directly
and through its subsidiary, Cheniere Energy Partners, L.P.,
Cheniere is developing, constructing, and operating liquefaction
projects near Corpus Christi,
Texas and at the Sabine Pass LNG terminal, respectively.
Cheniere is also exploring a limited number of opportunities
directly related to its existing LNG business.
For additional information, please refer to the Cheniere website
at www.cheniere.com and Quarterly Report on Form 10-Q for the
quarter ended September 30, 2016,
filed with the Securities and Exchange Commission.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. In particular, statements using words such as "may,"
"will," "could," "should," "expect," "plan," "project," "intend,"
"anticipate," "believe," "estimate," "predict," "potential,"
"pursue," "target," "continue," the negative of such terms or other
comparable terminology generally involve forward-looking
statements. The forward-looking statements contained herein
(including statements regarding Cheniere's future expectations,
beliefs, plans, objectives, financial conditions, assumptions or
future events or performance that are not statements of historical
fact) are largely based on our expectations, which reflect
estimates and assumptions made by our management. These estimates
and assumptions reflect our best judgment based on currently known
market conditions and other factors. Although we believe that such
estimates are reasonable, they are inherently uncertain and involve
a number of risks and uncertainties beyond our control. In
addition, assumptions may prove to be inaccurate. We caution that
the forward-looking statements contained herein are not guarantees
of future performance and that such statements may not be realized
or the forward-looking statements or events may not occur. Actual
results may differ materially from those anticipated or implied in
forward-looking statements as a result of numerous factors,
including, but not limited to, factors affecting future results
disclosed in Cheniere's filings with the SEC (available at the
SEC's website at www.sec.gov), including but not limited to those
discussed under Item 1A, "Risk Factors", in Cheniere's Annual
Report on Form 10-K for the year ended December 31, 2015. These forward-looking
statements speak only as of the date made, and other than as
required by law, we undertake no obligation to update or revise any
forward-looking statement or provide reasons why actual results may
differ, whether as a result of new information, future events or
otherwise.
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SOURCE Cheniere Energy, Inc.