Shareholders approve plan for GasLog to go private

Peter Livanos-led GasLog said its shareholders have approved a plan revealed earlier this year under which the NYSE-listed LNG shipping firm would go private.

BlackRock’s Global Energy & Power Infrastructure Fund entered into a merger deal with GasLog in February.

Under the deal, GEPIF would acquire all of the outstanding common shares of GasLog not held by certain existing shareholders. These include Blenheim Holdings, wholly-owned by the Livanos family, and an affiliate of the Onassis Foundation.

GasLog said in a statement on Monday that its shareholders voted to approve the proposed transaction at a special general meeting held on June 4.

GEPIF will pay $5.8 per share in cash to get about 45% shares in GasLog. Blenheim Holdings and the Onassis Foundation will continue to have a 55% stake in the Greece-based LNG shipper.

Following the completion of the transaction, GasLog will delist its common shares from the New York Stock Exchange.

GasLog said it expects the transaction to close on or about June 9.

The company’s consolidated fleet consists of 35 LNG carriers. Of these vessels, the firm owns 18 LNG carriers while its unit GasLog Partners controls 15 carriers.

- Advertisements -

Most Popular

ConocoPhillips books capacity at Zeebrugge LNG terminal in Belgium

US energy giant ConocoPhillips has signed a deal to book long-term capacity at the Fluxys-operated Zeebrugge LNG import terminal...

Tellurian updates on Driftwood LNG work

US LNG terminal developer Tellurian, which is being acquired by Australia's Woodside, released the latest construction update for the...

NextDecade names new COO

US LNG firm NextDecade, the developer of the Rio Grande LNG export project in Texas, has appointed Tarik Skeik...

More News Like This

GasLog’s LNG carrier named in South Korea

Greece’s GasLog has named a new liquefied natural gas (LNG) carrier at Hanwha Ocean's yard in Geoje, South Korea. According...

Gastrade expects to launch commercial ops at Greece’s first FSRU in October

Greece’s Gastrade expects to launch commercial operations at its FSRU-based LNG import terminal off Alexandroupolis in October this year...

Chart and GasLog in LH2 pact

US-based LNG equipment maker Chart Industries will collaborate with Greek LNG shipping firm GasLog to study the development of...

Gastrade: Greece’s first FSRU to start commercial ops by end of April

Greece’s Gastrade expects to launch commercial operations at its FSRU-based LNG import terminal off Alexandroupolis by the end of...