Capital Product Partners L.P. (CPLP) (NASDAQ: CPLP), an international owner of ocean-going vessels, announced the approval by a majority of its unitholders, the conflicts committee of its board of directors, its full board of directors, and its general partner, Capital GP L.L.C., of the conversion of CPLP from a Marshall Islands limited partnership to a Marshall Islands corporation and the renaming of CPLP to “Capital Clean Energy Carriers Corp.” In connection with the conversion, the general partner will give up its existing management and consent rights with respect to CPLP and will convert its general partner units and incentive distribution rights to common shares.
Latham & Watkins LLP represented Raymond James as the financial advisor to the conflicts committee of Capital Products Partners in the transaction with a corporate team led by Houston partner John Greer, with associates Sašo Kraner and Katherine Cody.
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