Cool Company Ltd. (CLCO) completed its merger with a wholly‑owned subsidiary of EPS Ventures Ltd. on January 8, 2026, and the completion was announced on January 9, 2026. The transaction, registered in Bermuda, paid CLCO shareholders $9.65 in cash per share, which will be delivered in Norwegian kroner to holders of shares listed on Euronext Growth Oslo and in U.S. dollars to holders of shares listed on the New York Stock Exchange via the Depositary Trust Corporation. Following the merger, CLCO will be fully owned by EPS Ventures and its subsidiaries, will be delisted from both the NYSE and Euronext Growth Oslo, and will file a Form 15‑F with the SEC to terminate its reporting obligations under Section 13 of the Exchange Act.
EPS Ventures’ acquisition of Cool Company is part of a broader strategy to consolidate its LNG‑shipping operations and achieve scale in a market that is increasingly focused on low‑carbon transport solutions. By bringing Cool Company’s 13‑vessel fleet under its umbrella, EPS Ventures can leverage shared maintenance, chartering, and regulatory expertise, while also positioning itself to capture growing demand for LNG as a transition fuel. The $1.85 billion valuation—reflected in the $9.65 per‑share offer—represents a premium over Cool Company’s September 2025 trading price and signals EPS Ventures’ confidence in the long‑term growth prospects of the LNG‑carrier niche.
The merger’s completion marks Cool Company’s transition from a public to a private entity, allowing the combined company to operate without the quarterly reporting burden and regulatory scrutiny that accompany a public listing. This shift is expected to reduce compliance costs, free management to focus on long‑term strategic initiatives, and enable more flexible capital allocation. EPS Ventures will also be able to pursue fleet modernization programs, such as the LNG‑upgrade initiative, without the constraints of public‑market expectations, potentially accelerating the deployment of lower‑emission vessels.
Prior to the deal, Cool Company had demonstrated steady revenue growth driven by a robust global LNG market. The September 2025 announcement of the acquisition offered a premium that reflected the company’s strong earnings profile and the strategic value of its fleet to EPS Ventures. Management highlighted that the transaction would preserve the operational integrity of Cool Company’s vessels while integrating them into EPS Ventures’ broader logistics network, thereby enhancing service reliability for customers worldwide.
EPS Ventures’ CEO, who emphasized the strategic fit, stated, “Acquiring Cool Company strengthens our LNG‑shipping capabilities and positions us to meet the rising demand for clean energy transport. The combined fleet will deliver greater operational flexibility and cost efficiencies, reinforcing our commitment to sustainable growth.”
The completion of the merger is expected to streamline operations, reduce regulatory overhead, and position the combined entity to capitalize on the expanding LNG market, while providing existing Cool Company shareholders with a clear exit at a premium.
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