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Stock impact report

Excelerate to acquire New Fortress' assets in Jamaica for $1.06bn [Yahoo! Finance]

New Fortress Energy Inc. - Class A (NFE) 
Last new fortress energy inc. - class a earnings: 3/4 12:02 am Check Earnings Report
Company Research Source: Yahoo! Finance
This acquisition includes the Montego Bay LNG Terminal, Old Harbour LNG Terminal and the 150MW Clarendon combined heat and power (CHP) co-generation plant, enhancing Excelerate's existing portfolio with downstream infrastructure. The assets involved are the only two LNG terminals in Jamaica and the only CHP co-generation plant, serving both power plants and industrial customers. The transaction, valued at approximately nine-times the Jamaica business' 2025 estimated adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation), will be funded through permanent financing and cash-on-hand. Excelerate has secured an $850m fully committed bridge facility to backstop the financing. The acquisition positions Excelerate as Jamaica's sole LNG platform, benefitting from first-mover advantage and its established presence in the Jamaica power system. Excelerate will gain ownership of long-term contracted assets, offering stable margins and robust recontracting oppor Show less Read more
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