GasLog merger deal
April 7 (LNGJ) - GasLog Ltd and GasLog Partners LP have entered into a definitive merger agreement with GasLog acquiring all the outstanding common units of the Partnership. GasLog is also acquiring the common units of the Partnership not already owned by GasLog for $8.65 in cash per common unit. The transaction is expected to close by the end of the third quarter of 2023.
GasLog’s current consolidated fleet consists of 38 LNG carriers with 33 on the water, four under construction and one vessel undergoing conversion into a floating storage and regasification unit. Of these vessels, 18 are owned by GasLog, six have been sold and leased back by GasLog under long-term bareboat charters and of the remaining 14 LNG carriers, 11 are owned by GasLog Partners with three sold and leased back by the Partnership.
LNG fleet owner GasLog reports 78 percent rise in annual profits amid merger plan and charter extensions
GasLog Ltd, the operator of a fleet of 27 vessels along with affiliate GasLog Partners, posted a more than 78 percent surge in annual profits as global energy shipping activities intensified and charter options were extended.
GasLog completes transactions to take LNG fleet private after merging with unit of US fund BlackRock
GasLog Ltd, the operator of a fleet of 35 LNG carriers, has completed its merger transaction with the infrastructure unit of the giant US asset management firm BlackRock and the company has now been taken private.
