M&A
Swan Energy to sell LNG terminal stake to Turkey's Botas for $399-M
Swan Energy Ltd is to sell its stake in a floating LNG receipt terminal Triumph Offshore Pvt Ltd (TOPL) to Turkey's state-run Botas Trading for USD 399 million. The sale consideration is to be received in multiple tranches.TOPL owns a 5 million tonne-a-year floating storage and re-gasification unit (FSRU) called Vasant-1. Swan Energy holds 51% in TOPL while fertiliser maker IFFCO the remaining 49%.
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