Golar LNG reduces shareholding in Korea Line Corporation
25 Apr 2007
Golar LNG announces that it has sold 1 million Korea Line Corporation shares for a net price of approximately $71 million, which represents a book profit of approximately $29 million based upon the book value of the investment as at December 31, 2006.
After this sale Golar's shareholding in Korea Line Corporation will be 1.1 million shares or approximately 11%. As a result of this transaction it is expected that Golar will no longer equity account for its share of Korea Line's results.
The proceeds from the sale are likely to increase Golar's dividend capacity in the future quarters.
Golar LNG Limited
April 24, 2007
Hamilton, Bermuda.
Questions should be directed to:
Golar Management (UK) Ltd - +44 207 517 8600:
Gary Smith: Chief Executive Officer
Graham Robjohns: Chief Financial Officer
