EIG, a leading institutional investor in the global energy and infrastructure sectors, has announced that it has disposed of Harbour energy Plc (HBR. L or the company) to be controlled by Harbour North Sea Holdings Ltd (Harbour North Sea) through a series of allocations toEIGfund investments By.
EIGCEO R. Blair Thomas said in a statement that EIG has allocated shares in Harbour Energy to its fund investors.
"As EIG remains the largest shareholder post-distribution, we remain committed to the industry, have confidence in the company's current strategy, and support its management team."
After the merger of Premier Oil plc and Chrysaor Holdings Ltd, Harbour North Sea acquired a 36.46% stake in the company.
EIG manages the company's shares through an investment fund through several holding companies (EIG holding structures).Allocating shares through an EIG holding structure will result in extensive regulatory filings.
What EIG wants to clarify is that the company did not sell any shares in this distribution.
Following this distribution, EIG will remain the company's largest shareholder, holding approximately 16% of its outstanding shares through management tools and exclusive ownership.
In addition, Thomas Farris and Steven Farris will serve as the company's chairman and director, respectively.
Distributions are a taxable matter for certain EIG affiliated shareholders, so some of these shareholders may sell shares as necessary to meet such tax obligations.
