E A Lot Of Good News

The first nice day this year and there is too much news to knock off early. Luckily a lot of the news is good including a buyout of a stock we own thanks to Gen. Joe Shaefer, USAF-ret, who is our Norway expert because he was posted there during his military service. Now he runs a newsletter with which we trade news and manages money.

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Green from green

*Our big winner is Norwegian-owned but run from Bermuda, Höegh LNG Partners HMLP. A JV is planned by the lead Norway shareholders, Leif Höegh &Co with a sub of Morgan Stanley, Lanus Holdings Ltd, to buy the publicly listed shares of our shipping company for NOK 23.5/sh. The Norwegian company only owns 46% of the LNG shipping firm which we bought into at Joe's urging. The offer is up 36% from the price last Friday and also 32% over the 30-day volume-weighted price. The parent company will delist from Oslo. You get to vote on the takeover on March 30 at 10 am in Hamilton Bermuda. The US price of HMLP-A, the target stock, is down o.2% because some shareholders have not declared their ownership, and others are frightened of the Krone. So there will be capital gains taxes but I love to pay these on my gains.

*Nio, the Chinese electric vehicle company, plans to list in Hong Kong this year according to Reuters. A seekingalpha writer named “Equal Ocean” says the listing will boost NIO stock to $40 and in fact, the share tossed 16.8% today to $41.13. China electric car sales in Feb. this year were 7x those last year although down from Jan. because of the Chinese new year, at 97,000 for all brands.

*Cemex going green by reducing clinker and opening more small cement-making sites in Europe and the US will now take these measures in the Caribbean. Eduardo Garcia writes in sentidocomun.co.mx that CX will boost the output of its Dominican Republic plant by a third to offer localized service to the Caribbean islands from there rather than Mexico. CX was rated risky because so much of its sales in 2020 were for real estate rather than infrastructure.

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Herbert Blank 1 month ago Contributor's comment

Always good to read about good news. Thanks for posting Vivian Lewis