A Blackstone-led group has agreed to invest $3.1 billion in Mitsubishi Corp.'s interest in a natural-gas liquefaction project in Canada. The deal values Mitsubishi's stake in the LNG Canada project and marks one of the largest investments in the sector this year. Blackstone, the global alternative asset manager, is teaming up with other investors to take a significant position.
The transaction is expected to close in the coming months, subject to regulatory approvals. Mitsubishi will use the proceeds to strengthen its balance sheet and explore other energy opportunities.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing