10 Firms Mirror Wall Street Slump on Thursday

3. New Fortress Energy Inc. (NASDAQ:NFE)

New Fortress Energy traded 16.17 percent lower on Thursday to finish at $9.28 apiece following news that it was selling its Jamaican business for $1.055 billion.

In a statement, Excelerate Energy said that it entered into an agreement with NFE for the acquisition of the latter’s two LNG terminals and a 150-MW combined heat and power plant, all for $1.055 billion.

Under the terms of the agreement, Excelerate will acquire all assets and operations of the Montego Bay LNG Terminal, the Old Harbour LNG Terminal, and the Clarendon combined heat and power co-generation plants.

According to the company, the transaction is expected to be completed in the second quarter of the year, subject to regulatory approvals and the satisfaction of other customary closing conditions.