CVC DIF, formerly known as DIF Capital Partners, has agreed to sell its 29% economic interest in France LNG Shipping (FLS) to Ocean Yield AS, a company wholly owned by KKR Global Infrastructure Investors IV. France LNG Shipping operates state-of-the-art liquefied natural gas carrier vessels under long-term charters with leading European energy companies. Orrick advised CVC DIF on the transaction. Ocean Yield, a ship-owning company with investments in long-term charters, will be the new stakeholder. The transaction is anticipated to close in the second half of 2024, subject to conditions. CVC DIF’s investment initially led to substantial growth in FLS’s fleet. Willem Jansonius, Partner and Head of CIF Investments at CVC DIF, remarked that the transaction is an exemplary reflection of CVC DIF’s value-add strategy, transforming FLS into a stronger entity since 2019.

Private Equity, Shipping and Maritime, Energy Infrastructure,Netherlands, France, Norway, Global

https://www.orrick.com/en/News/2024/07/Orrick-advised-CVC-DIF-on-the-sale-of-a-stake-in-France-LNG-Shipping-to-KKR-backed-Ocean-Yield