Mitsubishi to sell part of its LNG Canada interest to Blackstone funds
Business · First reported 2 Nov, 07:24 · Updated 07:37
Mitsubishi plans to sell a 49.9% interest in a holding company that owns its LNG Canada stake to Blackstone-managed funds for about $1.6 billion. The company says the deal will not change its LNG offtake volumes or customer relationships.
- Mitsubishi said it would sell a 49.9% interest in the holding company for about $1.6 billion.
- The holding company owns 15% of LNG Canada and currently takes 2.1 million metric tons of LNG per year from the project.
- Mitsubishi said the transaction would not affect its offtake volumes or customer relationships; it is expected to close in November.
Summary written by Lux AI from 2 articles
Key facts
- Sale interest
- 49.9% of the holding company
- Approximate sale price
- $1.6 billion
- Holding company's LNG Canada stake
- 15%
- Current annual offtake
- 2.1 million metric tons
- Expected annual offtake after expansion
- 4.2 million tons
- Expected closing
- November
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