All articles tagged with #global infrastructure partners
Orsted will have a new partner in its US offshore wind projects as Eversource agrees to sell its 50% stakes in the South Fork and Revolution Wind projects to Global Infrastructure Partners (GIP), which is in the process of being acquired by BlackRock. The deal is valued at $1.1bn and marks a significant development in the US offshore wind sector.
Adebayo Ogunlesi, a Nigerian financier, made headlines by selling his infrastructure investment firm, Global Infrastructure Partners, to BlackRock for $12.5 billion, marking a significant consolidation in the industry. Ogunlesi, known for his impressive career in banking and investment, has focused on infrastructure projects primarily outside of Africa. With the continent's growing need for infrastructure investment, his new association with BlackRock could potentially lead to increased investment in Africa.
BlackRock announces a $12.5 billion deal to acquire Global Infrastructure Partners, with $3 billion in cash and 12 million shares. The acquisition aims to position BlackRock at the forefront of investing in global infrastructure projects. The company also revealed management changes and reported an 8% rise in quarterly profit, driven by market rebound and increased assets under management.
BlackRock Inc. has agreed to acquire Global Infrastructure Partners for approximately $12.5 billion, marking a significant move into long-term investments in energy, transportation, and digital infrastructure. The deal includes $3 billion in cash and about 12 million shares, with the expectation of closing in the third quarter. Adebayo Ogunlesi, GIP's chairman and CEO, will join BlackRock's board and global executive committee.
BlackRock has agreed to acquire private-equity firm Global Infrastructure Partners for approximately $12.5 billion in cash and stock, marking a significant move into private-market investments for the world's largest asset manager. This acquisition represents BlackRock's largest since purchasing Barclays's asset management business in 2009 and signifies the company's ongoing efforts to expand its private-market operations.
TC Energy has agreed to sell 40% of its Columbia Gas and Columbia Gulf pipelines in the U.S. to Global Infrastructure Partners (GIP) for $3.9 billion in cash. The sale will accelerate TC Energy's debt reduction program, while GIP will fund its share of capital expenditures. TC Energy will continue to operate the pipelines, which deliver a significant portion of daily U.S. natural gas demand, including 20% of the supply for U.S. LNG exports. The company aims to monetize assets to reduce debt and cover cost overruns at other pipeline projects.
NextDecade has signed framework agreements with Global Infrastructure Partners and TotalEnergies to enable the final investment decision for the Rio Grande LNG project Trains 1, 2 and 3 and to provide momentum for the further development of RGLNG Train 4 and Train 5. GIP would become a majority investor in Phase 1, and TotalEnergies would become a 16.67% investor, both subject to execution of definitive documentation and FID. TotalEnergies has also agreed to purchase 5.4 million tonnes per annum of LNG from Phase 1 for 20 years on a free on board basis indexed to Henry Hub and has options to purchase LNG from Train 4 and Train 5.