AmericasContracts and Tenders

GasLog wraps up BlackRock deal

By LNG Prime Staff
GasLog wraps up BlackRock deal
Image: GasLog

Peter Livanos-led GasLog said Wednesday it completed the previously announced transaction with BlackRock’s Global Energy & Power Infrastructure team.

The closing of the transaction follows a special general meeting on June 4 where GasLog’s shareholders approved the transaction under which the firm goes private.

GEPIF has acquired 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 trading of the company’s common shares on the New York Stock Exchange would be suspended with immediate effect.

In addition, the LNG shipper expects delisting of the shares to take about 10 days.

“The company’s 8.75% Series A Cumulative Redeemable Perpetual Preference Shares remain outstanding and continue to trade on the NYSE,” it said.

GasLog’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.

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