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BRIEF-GasLog Partners announces acquisition of Gaslog Geneva from Gaslog Ltd
June 1, 2017 / 11:00 AM / 7 months ago

BRIEF-GasLog Partners announces acquisition of Gaslog Geneva from Gaslog Ltd

June 1 (Reuters) - GasLog Partners LP

* GasLog Partners LP announces acquisition of GasLog geneva from Gaslog Ltd for $211 million

* GasLog Partners LP - Gaslog Partners expects to finance acquisition with cash on hand​

* GasLog Partners LP says expects to finance acquisition with cash on hand, including proceeds from its recent preference unit offering

* GasLog Partners LP - deal to support gaslog partners’ guidance to grow unitholder distributions at a 10% to 15% compound annual rate from IPO through 2017​

* GasLog Partners LP - partnership intends to recommend an annualized distribution of greater than $2.09 per unit by q4 of 2017

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

* GasLog Partners LP - board of Gaslog, Gaslog Partners and conflicts committee of board have approved acquisition

* GasLog Partners LP - ‍gaslog Partners estimates that Gaslog Geneva will add approximately $23 million to EBITDA in first 12 months after deal closing.​

* GasLog Partners LP -based on partnership’s distribution growth guidance, Gaslog’s annualized distributions received from co are expected to equal about $26 million by q4 Source text for Eikon: Further company coverage:

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