Hamilton, Bermuda, October 21, 2024 —GasLog Ltd. (“GasLog”), a leading global provider of LNG shipping services, is pleased to announce that GIC, a global institutional investor, and a fund managed by Global Infrastructure Partners (GIP), a part of BlackRock (“BlackRock”), have entered into an agreement whereby GIC will acquire BlackRock’s approximately 45% shareholding in GasLog. Blenheim Holdings Ltd., which is wholly owned by the Livanos family, and the Onassis Foundation will maintain their respective shareholdings of approximately 55% in GasLog.
“GasLog has enjoyed an excellent partnership with BlackRock since 2021 and during this period has continued to build a world class fleet of modern LNG carriers serving some of the world’s leading energy players. We are delighted to welcome GIC as our new partner,” said Peter G. Livanos, Chairman of GasLog. “GIC’s long-term investment horizon and focus on safety and operational excellence align with GasLog’s corporate values. GIC has a track record of success in supporting energy infrastructure businesses, further enhancing GasLog’s core strengths and capital flexibility. Their global reach will also be a benefit to us as we pursue attractive growth opportunities in the future.”
The transaction is expected to close in the fourth quarter of 2024 subject to regulatory approvals and customary closing conditions.
About GasLog
GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog’s fleet consists of 36 LNG carriers (34 on the water and two under construction) and a 20% interest in a floating storage and regasification terminal.
About GIC
GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, we take a long-term, disciplined approach to investing, and are uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Our long-term approach, multi-asset capabilities, and global connectivity enable us to be an investor of choice. We seek to add meaningful value to our investments. Headquartered in Singapore, we have a global talent force of over 2,300 people in 11 key financial cities and have investments in over 40 countries. For more information, please visit gic.com.sg or follow us on LinkedIn.
About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. On October 1, 2024, BlackRock completed the acquisition of Global Infrastructure Partners (GIP). For additional information on BlackRock, please visit www.blackrock.com/corporate.
