New Fortress Energy Inc. (NFE) and Apollo announced that they have entered into a definitive Equity Purchase and Contribution Agreement to sell 11 LNG infrastructure vessels owned by NFE to a newly formed joint venture (JV) between funds managed by Apollo and NFE in a transaction valued at approximately US$2 billion. The JV will be owned approximately 80% by Apollo funds and 20% by NFE.
The portfolio consists of 6 Floating Storage and Regasification Units (FSRUs), 2 LNG Carriers (LNGCs), and 3 Floating Storage Units (FSUs). The total implied enterprise value of the transaction is approximately US$2 billion, and NFE will receive approximately US$1.1 billion in proceeds after accounting for NFE’s share of the JV and paydown of existing debt.
As part of the transaction, NFE has agreed to charter 10 of the 11 vessels from the Platform for a period of up to 20 years commencing either upon close of the transaction or upon expiration of the vessels’ existing third-party charter agreements. The Platform will also seek growth opportunities in support of both NFE and third parties to support the energy transition and bolster energy security globally.
Subject to completing customary closing conditions, including receipt of certain regulatory approvals and third-party consents, the transaction's closing is expected in Q3 of 2022.
William P. Hobby Airport has issued a tender notice seeking a private partner for the construction of five information booths at the Hobby Airport in Houston, Texas, USA. The notice involv...
Read moreA consortium, comprised of funds managed by H.R.L. Morrison & Co, Australian Retirement Trust (ART) and a managed client of UBS Asset Management, has announced the signing of a definitive agr...
Read moreThe City of Arlington has issued a request for proposal (RFP) for a feasibility study for a broadband fiber-to-the-premises network in Arlington, Washington, USA. The RFP should include a survey of r...
Read morePantheon Infrastructure Fund has agreed to invest US$34.7 million in Vantage Data Centers, providers of wholesale data centre infrastructure to large enterprises and hyperscale cloud providers in the...
Read moreTown of Chapel Hill is seeking qualifications from engineering and/or landscape architect firms for the inspections of stormwater control measures (SCMs) at Town-owned facilities i...
Read more