New Fortress Energy Unveils UK-Led Restructuring Plan to Cut Debt and Spin Off Brazil Operations

Edens said the transaction’s first step separates “old NFE” into two entities: BrazilCo and a “new NFE.” BrazilCo will include the company’s terminals, power plants, and operations in Brazil and is expected to become a privately held company owned by creditor groups while continuing to be managed by existing management. The “new NFE” will remain publicly traded and retain the company’s remaining assets and operations, which management described as an integrated LNG-to-power business with a simplified, delev ...