AmericasCorporate

Blackstone sells Cheniere’s partnership stake

By Mirza Duran
Blackstone sells Cheniere's partnership stake in multi-billion deal
Sabine Pass LNG (Image: Cheniere)

Blackstone Group has agreed to sell its 41% stake in Cheniere Energy Partners to Brookfield Asset Management and its own affiliated infrastructure group.

The US private equity firm revealed this in a filling on Monday but it did not disclose the value of the deal.

According to a Bloomberg report, Brookfield negotiated a $34.25 per unit sale price valuing the deal at about $7 billion.

Blackstone will net $5 billion from the stake sale, the report claims.

In 2012, the US firm invested $1.5 billion into the limited partnership formed by Chenier to help fund Sabine Pass.

The Cheniere affiliate owns and operates the $25 billion Sabine Pass LNG export terminal and related infrastructure.

The facility has five liquefaction trains and is constructing one additional unit for a total capacity of about 30 mtpa.

US LNG producer Cheniere owns a 48.6% stake in the partnership while Blackstone and the public hold the rest.

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