FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid
July 22, 2019
(Reuters) – Blackstone Group Inc <BX.N> is considering selling its stake in LNG producer Cheniere Energy Inc’s <LNG.A> limited partnership seven years after investing about $1.5 billion, Bloomberg reported on Monday, citing people familiar with the matter.
The private equity firm is marketing its stake in Cheniere Energy Partners LP <CQP.A> to a small number of infrastructure, pension and sovereign wealth funds, according to the report. (https://bloom.bg/2LCbNok)
Blackstone held about 201 million shares, or about 58%, of Cheniere Energy Partners as of March 31, according to Refinitiv Eikon data.
Based on Friday’s close, the stake would be worth about $8.7 billion.
Shares of Cheniere Energy Partners were up about 1.6% in afternoon trading.
Blackstone declined to comment, while Cheniere Energy Partners LP did not immediately respond to Reuters request for comment.
(Reporting by Shanti S Nair in Bengaluru; Editing by Sriraj Kalluvila)
