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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”).
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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 ).
Together, the transactions crystalize part of the value built in the Golar asset portfolio since 2015 and will generate a book gain to Golar of approximately $740 million based on Q4 2020 book values.
These sales complete a significant step in Golar s corporate simplification process.
Posted on 423
New Fortress Energy Inc. (Nasdaq: NFE) (“NFE”) today announced that it has entered into definitive agreements to acquire Hygo Energy Transition Ltd. (“Hygo”), a 50-50 joint venture between Golar LNG Limited (Nasdaq: GLNG) (“GLNG”) and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (“Stonepeak”), and Golar LNG Partners, LP (Nasdaq: GMLP) (“GMLP”).
“With a strong presence in Brazil and a world-class LNG shipping business, Hygo and GMLP are excellent additions to our efforts to accelerate the world’s energy transition,” said Wes Edens, Chairman and CEO of NFE. “The addition of Hygo will quickly expand our footprint in South America with three gas-to-power projects in Brazil’s large and fast-growing market. With GMLP, we gain LNG ships and world-class operators that are an ideal fit to support our existing terminals and robust