Cheniere Energy To Buy Back $350 Mln Of Shares From Carl Icahn

(RTTNews) - Cheniere Energy, Inc. (LNG), an a liquefied natural gas company, said on Wednesday that it has inked a purchase deal to buy back around $350 million shares from Carl Icahn and his affiliates for $130.52 per share.

The transaction, expected to be closed on June 21, will be funded from Cheniere's cash on hand and is also a part of the company's $1 billion share repurchase authorization.

Jack Fusco, Cheniere's CEO said: "Today's $350 million repurchase reflects efficient execution on our long-term capital allocation plan and underscores our conviction in Cheniere's industry-leading LNG platform at a time when environmental priorities and energy security have natural gas as a key focus globally."

Icahn said that he and his affiliates will remain sizeable owners of Cheniere stock in the post transaction period.