Blackstone Credit & Insurance (BXCI) has partnered with four major Canadian institutional investors to invest $3.1 billion in Mitsubishi Corporation's stake in LNG Canada. The group, which includes CPP Investments, OMERS, IMCO, and PSP Investments, will acquire a 49.9% non-controlling interest in Mitsubishi's subsidiary that holds its share of the liquefaction business. CPP Investments is participating through subsidiaries of CPPIB Credit Investments.
This transaction allows Mitsubishi to raise capital against the asset while retaining operational control and its full share of LNG offtake. As one of Japan's largest LNG suppliers, Mitsubishi will maintain its controlling position in the venture.
Source: PE Insights · Summarized by HeadlinesBriefing