IOI Properties launches property trust IPO seeking 2.1 billion ringgit
The offering puts the trust's value at about 5.3 billion ringgit, with a Bursa Malaysia listing planned for November 25.
Mitsubishi to sell LNG Canada holding-company stake for $1.6 billion
Blackstone-managed funds will buy a 49.9% interest in the holding company, while Mitsubishi says its LNG offtake volumes will be unchanged.
Mitsubishi Corp said on November 2 it would sell 49.9% of a holding company with an interest in LNG Canada for about $1.6 billion. The buyers are funds under the management of Blackstone Credit & Insurance, a Blackstone unit.
The Japanese trading house holds its 15% interest in LNG Canada through that company. The export facility in British Columbia is led by Shell and began producing LNG in June 2025.
Mitsubishi said neither its LNG offtake volumes nor its customer relationships would change because of the sale. The holding company's current offtake is 2.1 million metric tons per year, expected to rise to 4.2 million tons a year following the project's expansion.
Shell and its partners announced a final investment decision for Phase 2 in September. That expansion will bring annual production capacity to 28 million tons, doubling the facility's capacity.
Mitsubishi said Blackstone's financial resources would help it advance the expansion and improve its investment's capital efficiency. A Mitsubishi spokesperson said completion of the transaction was expected in November.