Blackstone leads investors in a $3.1 billion acquisition of a 49.9% stake in LNG Canada’s liquefaction business

(1) An investor group led by BlackRock has agreed to acquire a 49.9% stake in the liquefaction business of the Canadian liquefied natural gas project (LNG Canada) from a subsidiary of Mitsubishi Corporation for $3.1 billion. (2) Other participating investors include the Canada Pension Plan Investment Board, Ontario Municipal Employees Retirement System, Ontario Teachers' Pension Plan, and Public Sector Pension Investment Board. (3) According to the statement released on Monday, major Japanese LNG supplier Mitsubishi Corporation will retain its role as controlling partner and continue to fully hold the project's LNG offtake share.