New Fortress Energy rises after $1.06 billion deal to sell Jamaica assets

U.S. LNG company New Fortress Energy's NFE.O shares rise 8.5% to $12.01 premarket

Company to sell its assets and operations in Jamaica for $1.06 billion to Excelerate Energy EE.N

Includes sale of its LNG import terminal in Montego Bay, offshore floating storage and regasification terminal in Old Harbour and a 150 megawatt combined heat and power plant in Clarendon

Proceeds from the deal will be used to reduce NFE’s corporate debt and for general corporate purposes

Transaction is expected to close in 2Q25

Up till last close, stock down 26.8% YTD