Brookfield in talks to buy Blackstone’s stake in Cheniere

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The infrastructure arm of Brookfield Asset Management Inc. is in talks to acquire Blackstone Group Inc.’s minority stake in liquefied natural gas terminal operator Cheniere Energy Partners LP, according to people familiar with the matter.The alternative asset manager is working with a partner to acquire Blackstone’s stake, said the people, who asked not to be identified because the matter is not public. No final decision has been made and Brookfield Asset Management may choose not to continue, they said.

Blackstone’s stake is worth around US $ 7.8 billion, according to data compiled by Bloomberg.

Representatives from Brookfield Asset Management, Blackstone and Cheniere declined to comment.

Cheniere Energy Partners units rose 5.7% on Tuesday. They closed 3.1 percent at US $ 39.00 in New York City, giving the company a market value of around US $ 18.9 billion.

Cheniere Energy Partners, a limited partnership created by Cheniere Energy Inc., owns the first major liquefied natural gas export terminal in the United States.

Blackstone agreed to invest approximately US $ 1.5 billion in the company in 2012.

The private equity firm owned 41.2% of the company as of June 30, while Cheniere Energy Inc. held 48.6%, according to a regulatory filing this month.

Blackstone was seeking a premium for its stake and had started marketing it to a small number of infrastructure, pension funds and sovereign wealth funds, Bloomberg News reported last summer.

Toronto-based Brookfield Asset Management is one of the world’s largest alternative assets and manages billions of dollars across all asset classes including real estate, energy and infrastructure.



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