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Transactions - FEBRUARY 22, 2021

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BlackRock to acquire 45% stake in Greek LNG operator, GasLog

by Kali Persall

BlackRock’s Global Energy & Power Infrastructure team (GEPIF) has agreed to acquire all of the outstanding common shares of GasLog that are not held by certain existing shareholders, in exchange for $5.80 in cash per common share.

Greece-based GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain.

Following the completion of the transaction, shareholders Blenheim Holdings and a wholly owned affiliate of the Onassis Foundation will continue to hold 55 percent of the outstanding common shares of the company, and GEPIF will hold the remaining 45 percent stake.

This acquisition price represents a 17 percent premium to the closing price of GasLog’s common shares on Feb. 19, and a 22 percent premium to the volume-weighted average share price of the company’s common shares over the last 30 days.

“This transaction is a transformative next step for

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