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New Fortress Energy to buy Hygo Energy, Golar LNG Partners in $5B deals

• Golar LNG (NASDAQ:GLNG) +21.7%pre-market after New Fortress Energy (NASDAQ:NFE) agrees to acquire Hygo Energy, a 50-50 joint venture between Golar LNG and Stonepeak Infrastructure, as well as Golar LNG Partners (NASDAQ:GMLP), in two deals valued at a combined $2.43B on an equity basis and ~$5B on an enterprise value basis.
• GMLP +18.6%, NFE +4.3% pre-market.
• New Fortress will acquire Hygo for 31.4M NFE Class A common shares and $580M in cash; the deal is valued at $2.18B on an equity basis and $3.1B on an enterprise basis.
• Golar LNG will receive 18.6M NFE Class A common shares and $50M in cash, and Stonepeak will receive 12.7M NFE Class A common shares and $530M in cash.
• New Fortress agrees to acquire Golar LNG Partners for $3.55/unit in cash; the deal is valued at $251M on an equity basis and $1.9B on an enterprise basis.
• "The addition of Hygo will quickly expand our footprint in South America with three gas-to-power projects in Brazil’s large and fast-growing market," New Fortress Chairman and CEO Wes Edens says. "With GMLP, we gain LNG ships and world- class operators that are an ideal fit to support our existing terminals and robust pipeline."
• New Fortress Energy is looking to more than double revenue and turn profitable over the next year, Graham Grieder writes in a bullish analysis posted recently on Seeking Alpha.