GasLog Partners LP Acquires LNG Carrier Solaris from GasLog for $185.9 Mln

GasLog Partners LP (GLOP) and GasLog Ltd.(GLOG) said Friday they have approved entering into an agreement for the partnership to purchase from GasLog 100% of the shares in the entity that owns and charters Solaris, a 155,000 cubic meter tri-fuel diesel electric liquefied natural gas carrier built in 2014.

The aggregate purchase price for the acquisition will be $185.9 million, which includes $1 million for positive net working capital balances to be transferred with the vessel. GasLog Partners expects to finance the acquisition with cash on hand and the assumption of $117 million of Solaris’ existing debt.

The acquisition is expected to close in Q4 and is subject to satisfaction of certain customary closing conditions.

The board of directors of GasLog, the board of directors of GasLog Partners and the Conflicts Committee of the partnership’s board have approved the acquisition.

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