New Fortress Energy Completes Sale of Stake in Energos Infrastructure
15 Febrero 2024 - 7:00AM
Business Wire
Summary Highlights
- NFE sells 20% stake in Energos Infrastructure to funds managed
by Apollo
- NFE to use net proceeds to repay debt and invest in accretive
downstream projects
- NFE charters six LNG vessels from Energos today, and will
continue to partner with Energos in the future to support
significant growth at NFE’s downstream terminals
New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced
that it has completed the sale of its 20% equity interest in
Energos Infrastructure (“Energos”) to funds managed by Apollo
(NYSE: APO) (the “Apollo Funds”). The Company intends to use net
proceeds from this transaction for general corporate purposes,
including repaying debt and investing in accretive downstream
projects.
Energos is a global maritime infrastructure company formed by
NFE and Apollo Funds in August 2022 to provide LNG delivery,
storage, and regasification services to a diverse customer base
comprised of utilities and energy companies under long-term
charters. Energos owns and operates 13 LNG infrastructure vessels,
consisting of 9 Floating Storage and Regasification Units, 2
Floating Storage Units, and 2 LNG carriers.
NFE currently charters six vessels from Energos and will
maintain an active relationship with Energos to support NFE’s
global operations through vessel charters for a period up to 20
years. These charters have either commenced or will commence upon
expiration of each vessel’s existing third-party charter
agreement.
“We are pleased to have established Energos with Apollo Funds,
our joint venture partner, and to have built it into a premier LNG
maritime infrastructure company today. Completing the sale of our
interest to Apollo Funds allows us to recycle proceeds into high
return downstream projects and to reduce debt," said Wes Edens,
Chairman and CEO of New Fortress Energy.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy
infrastructure company founded to address energy poverty and
accelerate the world’s transition to reliable, affordable, and
clean energy. The company owns and operates natural gas and
liquefied natural gas (LNG) infrastructure and an integrated fleet
of ships and logistics assets to rapidly deliver turnkey energy
solutions to global markets. Collectively, the company’s assets and
operations reinforce global energy security, enable economic
growth, enhance environmental stewardship and transform local
industries and communities around the world.
About Energos Infrastructure
Energos Infrastructure provides critical infrastructure for the
delivery, storage, and regasification of LNG through long-term
contracts, helping to power countries around the world and reduce
their reliance on oil and coal, enhance energy security and
reliability, and enable potential cost savings. Energos’ asset
platform serves a diversified customer base of utilities and energy
companies worldwide under third-party charters.
About Apollo
Apollo is a high-growth, global alternative asset manager. In
our asset management business, we seek to provide our clients
excess return at every point along the risk-reward spectrum from
investment grade to private equity with a focus on three investing
strategies: yield, hybrid, and equity. For more than three decades,
our investing expertise across our fully integrated platform has
served the financial return needs of our clients and provided
businesses with innovative capital solutions for growth. Through
Athene, our retirement services business, we specialize in helping
clients achieve financial security by providing a suite of
retirement savings products and acting as a solutions provider to
institutions. Our patient, creative, and knowledgeable approach to
investing aligns our clients, businesses we invest in, our
employees, and the communities we impact, to expand opportunity and
achieve positive outcomes. As of December 31, 2023, Apollo had
approximately $651 billion of assets under management. To learn
more, please visit www.apollo.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240215396466/en/
For New Fortress Energy Investor Relations: Chance Pipitone
ir@newfortressenergy.com
Media Relations: press@newfortressenergy.com
For Apollo Investor Relations: Noah Gunn Global Head of Investor
Relations 212-822-0540 IR@apollo.com
Media Relations: Joanna Rose Global Head of Corporate
Communications 212-822-0491 Communications@apollo.com
Apollo Global Management (NYSE:APO)
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