Golar LNG Limited (GLNG) has agreed to acquire the New Fortress Energy (NFE) ownership stake in FLNG Hilli in exchange for Golar’s remaining 4.1M shares in NFE and $100M in cash. Golar will also take over approximately $323M in debt obligations linked to Hilli. Pursuant to the transaction, Golar will acquire the 50% interest in Trains 1 and 2 of FLNG Hilli, currently owned by a subsidiary of NFE. Following closing of the transaction, Golar’s effective interest in currently contracted FLNG Hilli earnings will be as follows: 94.55% of Common Units that receive tolling related fees relating to trains 1 and 2, and 5% of Dutch Title Transfer Facility related fees, 89.1% of Series A units that receive Brent oil related fees, 89.1% of Series B units that receive 95% of TTF related fees. Following the transaction Golar will have no remaining shareholding in NFE. Subject to customary conditions, the transaction is expected to close in Q1 2023.
Published first on TheFly
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