Wes Edens Explains To the Investors the Benefits of Upcoming Mergers
Wes Edens is the chairman and the CEO of the new fortress Energy. In a recent investor update, he informed them about the new merger they were planning to get into. The merger would be between the new fortress Energy and the Golar LNG Partners LP (GMLP) and Hygo Energy Transition Ltd. The merger was estimated to cost 5million dollars.
The core purpose of the merger was in a bid to expand the new fortress Energy. It would enable the company to start operating in several other areas like in Latin America. They will also acquire new assets and equipment vital when supplying and shipping liquefied natural gas.
According to Wes Edens, Hygo & Golar LNG Ltd would get a 50-50 partnership in the end. He also noted that the merger would ensure the company gains new markets, which would help in its growth and development. The new markets include the increased imports terminals from nine to five, which would massively increase LNG demand in Latin America.
Wes Edens affirmed that GMLP and Hygo were a great addition to their company to help them gain and increase their presence in Brazilian markets. The company’s main benefit would draw from the merger by making the energy transition known in the neighboring continents and the world. Wes informed investors the corporation would acquire LNG ships that will come with dependable operators. It would greatly help the NFE organization improve its pipelines and the existing terminals.
He further explained to the investors that their corporation would benefit from the first two units after floating liquefaction vessels. They would also benefit from LNG fleets of carriers from GMLP. The CEO told the investors that the merger would be great for the corporation as they would get more vessels from Hygo’s and FSRU’s 1,500 MW power plant located in Brazil. In the end, it would bring the company a 50% interest.