GasLog Partners LP Announces Acquisition Of GasLog Gibraltar For $207 Million and Repayment of Intercompany Loan
GASLOG LTD (GLOG)
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Source: GlobeNewswire
MONACO - March 21, 2018 - GasLog Partners LP (NYSE:GLOP) ("GasLog Partners" or the "Partnership") and GasLog Ltd. (NYSE:GLOG) ("GasLog") announced today that they have approved entering into two agreements: For the Partnership to purchase from GasLog 100% of the shares in the entity that owns and charters GasLog Gibraltar (the "Acquisition"). The aggregate purchase price for the Acquisition will be $207 million, which includes $1 million for positive net working capital balances to be transferred with the vessel. The Acquisition is expected to close in the second quarter of 2018 and is subject to satisfaction of certain customary closing conditions. The Board of Directors of GasLog, the Board of Directors of GasLog Partners (the "Board") and the Conflicts Committee of the Board have approved the Acquisition; and For the Partnership to repay in full its $45 million unsecured term loan from GasLog ("New Sponsor Credit Facility"). The New Sponsor Credit Facility accrues interest
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