Earlier Announced, TotalEnergies Has Also Agreed To Acquire In Three Tranches A 17.5% Common Stock Position In NextDecade For An Aggregate Purchase Price Of $219.4M
Portfolio Pulse from Benzinga Newsdesk
TotalEnergies has agreed to acquire a 17.5% common stock position in NextDecade for $219.4M in three tranches and purchase 5.4 MTPA of LNG from Phase 1 for 20 years. The first tranche of $40M was issued and sold today at $4.9837 per share.
June 14, 2023 | 1:51 pm
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POSITIVE IMPACT
NextDecade sells 17.5% stake to TotalEnergies for $219.4M and agrees to supply 5.4 MTPA of LNG for 20 years.
The sale of a significant stake to TotalEnergies and securing a long-term LNG supply deal will provide NextDecade with financial stability and growth opportunities. This is likely to have a positive impact on NEXT's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
TotalEnergies acquires 17.5% stake in NextDecade for $219.4M and secures 5.4 MTPA of LNG for 20 years.
The acquisition of a significant stake in NextDecade and securing long-term LNG supply will strengthen TotalEnergies' position in the energy market. This is likely to have a positive impact on TTE's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100