Reuters logo
BRIEF-GasLog Partners LP announces acquisition of GasLog Greece from GasLog Ltd for $219 million
March 23, 2017 / 8:23 PM / 6 months ago

BRIEF-GasLog Partners LP announces acquisition of GasLog Greece from GasLog Ltd for $219 million

March 23 (Reuters) - GasLog Partners LP

* GasLog Partners LP announces acquisition of GasLog Greece from GasLog Ltd. for $219 million

* GasLog Partners LP - Expects to finance acquisition with cash on hand, including proceeds from its recent equity offering

* GasLog Partners LP - Acquisition will be supportive of GasLog Partners’ guidance to grow unitholder distributions at a 10% to 15% compound annual rate

* GasLog Partners - Partnership affirms this growth guidance, which would result in an annualized distribution of $2.09 per unit or higher by Q4 of 2017

* GasLog Partners LP - Partnership believes acquisition will be immediately accretive to unitholder distributions

* GasLog Partners LP - GasLog’s annualized distributions received from GasLog Partners are expected to equal about $25 million or higher by Q4 of 2017

* GasLog Partners - Estimates , assuming full utilization, GasLog Greece will add approximately $24 million to EBITDA in first 12 months after deal closing

* GasLog Partners-Estimates , assuming full utilization, GasLog Greece will add $13 million to distributable cash flow in first 12 months after deal closing Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below