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New Fortress Energy Inc. (NASDAQ:NFE), a company specializing in natural gas distribution, has completed the sale of its Jamaican business to Excelerate Energy Limited Partnership (EELP), a subsidiary of Excelerate Energy, Inc. The transaction, which closed on May 14, 2025, was valued at $1.055 billion in cash, subject to customary adjustments.
The sale agreement, initially announced on March 26, 2025, includes adjustments for cash, debt, transaction expenses, working capital, and inventory of liquefied natural gas and fuel. The details of the agreement were disclosed in a previous filing with the Securities and Exchange Commission and are incorporated by reference into this report.
In conjunction with the completion of the asset sale, New Fortress Energy has provided unaudited pro forma condensed combined consolidated financial statements reflecting the transaction’s effect as of March 31, 2025, and for the year ended December 31, 2024. These statements are included as Exhibit 99.3 in the current report.
New Fortress Energy, which is incorporated in Delaware and headquartered in New York, NY, has confirmed the completion of the transaction through a report signed by Christopher S. Guinta, the Chief Financial Officer, dated May 20, 2025. The information contained in this article is based on the company’s SEC filing.
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