Vitol Group and Glencore Plc. are contemplating buying New Fortress Vitality Inc.’s Jamaican LNG belongings, in accordance with folks conversant in the matter.
New Fortress, which has confronted main mission delays and not too long ago refinanced greater than $2 billion in debt, has employed Lazard Inc. and Intrepid Monetary Companions LLC to discover divestment of a few of its LNG operations. The belongings on the public sale block embrace gas-import terminals in Jamaica, Puerto Rico and Brazil, in addition to a floating mission often known as Quick LNG.
Vitol’s and Glencore’s pursuits are primarily within the Jamaican services, in accordance with the folks, who requested to not be named as a result of the data is personal.
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Spokespeople for New Fortress, Glencore, and Vitol declined to remark. New Fortress mentioned final month that it’s searching for strategic companions for a number of of its companies.
Vitol-backed VTTI accomplished a deal for 70 % of an LNG import facility in Italy earlier this week. In the meantime, Glencore-backed Century Aluminum Co. owns a 55 % stake in alumina refiner Jamalco, certainly one of New Fortress’ prospects in Jamaica.
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