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New Fortress Energy Inc. has announced that it has signed a Memorandum of Understanding (MoU) with a subsidiary of Norsk Hydro (Hydro) to supply natural gas to the Alunorte Alumina Refinery in Pará, Brazil for a term of 15 years.
“We look forward to this long-term partnership and are pleased to assist Hydro with the transition of the Alunorte refinery to utilising a cleaner and more affordable supply of energy,” said Wes Edens, Chairman and CEO of New Fortress Energy.
Hydro is converting the calcination process and part of the steam generation at the Alunorte Alumina Refinery from fuel oil to natural gas, which is expected to reduce emissions by approximately 20%.
TortoiseEcofin Announces Constituent Changes Due to Merger and Acquisition Activity
LEAWOOD, KS / ACCESSWIRE /
April 15, 2021 / TortoiseEcofin today announced that Golar LNG Partners LP (NASDAQ:GMLP) will be removed from the Tortoise MLP Index
® (TMLP) as a result of the approved merger with New Fortress Energy Inc (NASDAQ:NFE). Due to the merger, GMLP will be removed from the index at market open on Monday, April 19, 2021.
GMLP will be removed without a special rebalancing from Tortoise MLP Index
® (TMLP), because the current weight is below the weighting threshold that would trigger such action.
Special rebalancings in TMLP are triggered by corporate actions such as mergers, bankruptcies, and liquidations, in which the resulting weight of a single constituent exceeds the index s 7.5% threshold and the target constituent weight exceeds certain weighting thresholds. Implementation of special rebalancings will be made in accordance with existing methodologies.
New Fortress Energy Completes Acquisition of Golar LNG Partners LP
Golar LNG Partners LP (Nasdaq: GMLP) (“GMLP”) today announces the completion of its sale to New Fortress Energy Inc. (“NFE”).
Under NFE’s merger agreement with GMLP, NFE acquired all of the outstanding common units of GMLP for $3.55 per common unit in cash. NFE also acquired GMLP’s general partner for equivalent consideration. The transaction is valued at a $1.9 billion enterprise value and $251 million equity value. The Series A preferred units of GMLP will remain outstanding following the merger.
“We are confident that the sale of GMLP to NFE is a good solution to all GMLP stakeholders, and successfully concludes the announced strategic review for the Partnership. We would like to thank all of our stakeholders for the interest and support through the Partnership’s public history. We would also like to thank the NFE team for an efficient closing of the transaction and wish NFE all the best for the
Golar LNG Partners L.P.: New Fortress Energy Completes Acquisition of Golar LNG Partners LP
April 15, 2021 - Golar LNG Partners LP (Nasdaq: GMLP) ( GMLP ) today announces the completion of its sale to New Fortress Energy Inc. ( NFE ).
Under NFE s merger agreement with GMLP, NFE acquired all of the outstanding common units of GMLP for $3.55 per common unit in cash. NFE also acquired GMLP s general partner for equivalent consideration. The transaction is valued at a $1.9 billion enterprise value and $251 million equity value. The Series A preferred units of GMLP will remain outstanding following the merger. We are confident that the sale of GMLP to NFE is a good solution to all GMLP stakeholders, and successfully concludes the announced strategic review for the Partnership. We would like to thank all of our stakeholders for the interest and support through the Partnership s public history. We would also like to thank the NFE team for an efficient closing of the transaction and wi
Golar LNG
Golar LNG Limited has today completed the sales of Hygo Energy Transition Ltd. and Golar LNG Partners LP
Golar LNG Limited has today completed the sales of Hygo Energy Transition Ltd. and Golar LNG Partners LP
Highlights
Golar LNG Limited (“Golar” or “GLNG”) received $50 million in cash and 18.6 million Class A common shares in New Fortress Energy Inc. (“NFE”) worth $878 million based on the April 14 closing price as consideration for the sale of its 50% interest in Hygo Energy Transition Limited (“Hygo”).
Golar received $81 million in cash for the sale of its 32% interest in Golar LNG Partners LP (“GMLP”).