Blackstone Group Sells Cheniere Energy to Brookfield
Posted on 08/24/2020
The Blackstone Group Inc., the private equity giant, agreed to sell roughly 40% of its stake in liquefied natural gas producer Cheniere Energy Inc’s limited partnership. The buyer of the stake is Brookfield Asset Management Inc. and its own affiliated infrastructure group, which negotiated a US$ 34.25 per unit sale price that values the deal at US$ 7 billion. Blackstone Group is looking to see a US$ 5 billion gain from selling a stake.
Cheniere Energy is the nation’s biggest LNG producer, which owns a 48.6% stake in Cheniere Energy Partner LP, while Blackstone CQP Holdco LP and the public hold the rest.
Train
Cheniere Energy is moving the development of its sixth train at Sabine Pass in Louisiana to the second half of 2022, from the first half of 2023.
In 2012, Blackstone Energy Partners made a US$ 1.5 billion investment in Cheniere Energy Partners.