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Hygo Energy Transition

Company Summary

Description

Hydo provides integrated downstream liquefied natural gas solutions in Brazil.

Operational Regions

  • South America
  • International

Related Entities

Recent news

  • 4/7/2022 - Golar LNG Sells 1/3 of... (subscriber access)
  • 4/19/2021 - Petrobras Launches... (subscriber access)
  • 4/16/2021 - Golar LNG Completes Sale... (subscriber access)
  • 1/13/2021 - Golar LNG & Stonepeak... (subscriber access)
  • 10/15/2020 - Hygo Energy Signs MoU... (subscriber access)

Company Transactions

Date: 4/16/2021
Type: Acquisition

NOTES:
Golar LNG Limited and Stonepeak Infrastructure Partners have signed a deal to sell and merge a 100% stake in Hygo Energy Transmission to New Fortress Energy. New Fortress will acquire all outstanding shares of Hygo for $580 million in cash and 31.4 million shares of their own stock, giving Hygo an enterprise value of $3.1 billion and an equity value of $2.18 billion. Golar LNG, for their 50% stake, will receive 18.6 million NFE shares and $50 million in cash while Stonepeak is given 12.7 million shares and $530 million in cash. Closing is targeted for the first half of 2021. Additionally, NFE will acquire 100% of the common units and general partner units of Golar LNG Partners at $3.55/unit. That marks a $1.9 billion enterprise value and a $251 million equity value.
REGIONS:
  • South America
  • International