New Fortress Energy sells stake in Cameroon liquefaction plant to Golar LNG for $586 mln

New Fortress Energy LLC
NFE,
-2.69%
said Monday it agreed to sell its ownership stake in a floating liquefaction facility in Cameroon for $586 million, including $323 million in debt and $263 million in cash and stock, to Golar LNG Ltd.
GLNG,
-0.82%.
The deal includes the return of 4.1 million shares of New Fortress Energy stock and $100 million cash. Based on the closing price Friday of $39.82 a share for New Fortress Energy, the stock portion of the deal is worth about $163 million. Golar LND is buying all of NFE’s stake in the floating liquefaction facility Hilli. Including the reduction of NFE shares in the deal, New Fortress will now have about 204.7 million shares outstanding. New Fortress Energy stock is down 6% in 2023, compared to a 7.7% gain by the S&P 500
SPX,
-0.61%.