New Fortress Energy gains on plan to split company, cut debt

New Fortress Energy

17/03/2026 17:21

** Shares of U.S. LNG firm New Fortress Energy NFE.O jump 32.6% to $1.43

** NFE says it will separate its Brazilian operations into a standalone company as part of a broader restructuring deal with creditors aimed at sharply cutting its debt

** NFE will split into two entities: a privately held Brazil-focused company owned by creditors, and a publicly traded "New NFE" that will hold the rest of its global assets

** Expects to complete split by mid-2026

** Says it has signed a restructuring support agreement with creditors under a consensual UK restructuring plan, which it expects to launch in April

** Restructuring is expected to reduce New NFE’s corporate debt to about $527.5 million from roughly $5.7 billion

** Including session's moves, NFE up 25.45% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com))